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Related Keywords: aiming for an over rise in outbound shipments, demand from China remaining tepid, export target for current fiscal fixed, fell short of official target, India-EU Free Trade Agreement, Indian textile and garment exports, recovery in the developed markets

India’s overall textile and garment exports remained almost flat at $40 billion in the last fiscal, according to a quick estimate said a senior textile ministry official. Still, the exports fell short of the official target of $45-47.5 billion for 2015-16.

Textile minister Santosh Kumar Gangwar on Friday said that the government has fixed the textile and clothing export target at $48.5 billion for the current fiscal, aiming for an over 21% rise in outbound shipments from the actual level of 2015-16.

Related Keywords: continuation of interest subvention scheme, export target set, for current fiscal year, handicrafts and garments, Handlooms, India-EU Free Trade Agreement, Indian textile sector, outbound shipment, stiff competition, textile minister Santosh Gangwar

The achhe din for the textile sector has started to arrive, said textile minister Santosh Kumar Gangwar on Monday, as the Narendra Modi govenrment completes one year. The government has set target of $47.5 billion for textile and clothing exports for the current fiscal year, aiming for an almost 14% rise in outbound shipments from the actual level of 2014-15.

Related Keywords: export, FTA market, import, India International Garment Fair, India-EU Free Trade Agreement, Indian clothing sector

India's clothing exports to the FTA countries having increased significantly after signing of the FTA/PTA (Preferential Trade) agreements. The apparel sector are now pushing for expeditious finalization of India-EU Free Trade Agreement, to enable better market access that is already enjoyed by Bangladesh, Vietnam and Cambodia. Indian exporters total outbound shipments stood at USD 15.7 billion last year.