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Performance of Indian garment exports likely to better than textiles

Related Keywords: carpet, Currency devaluation, cut production, excessive dependence on China, fabrics, garment expor market, Indian garment export, jutes, Made ups, perform better than textile, spinning mills, textile products include raw cotton, wider geographical spread, yarn

Indian garments export likely to continue performing better than those of textiles for some more time due to wider geographical spread of its export markets. While textile exports is affected due to an excessive dependence on China, reports Banikinkar Pattanayak in New Delhi. Textile exports include a range of products such as raw cotton, yarn, fabrics, made-ups, carpets, jutes, etc.

China sneezes and textile world may catch cold soon

Related Keywords: Currency devaluation, RMB devaluation, textile export, yarn export, yuan devaluation

The People’s Bank of China (PBC) devalued the Renminbi (RMB/Yuan) on 11 August by 2015 by 1.9%, the largest one day devaluation since 1994. The ‘daily fix’ of the currency to the US$ moved out to almost 6.23 Yuan versus 6.1162 Yuan the previous day. Although the move spooked global markets and raised yet more concerns about the health of the Chinese economy, it will be interesting to gauge its impact on global trade, particularly that of textiles.

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