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Related Keywords: a mega trade show, CMAI is organizing The National Garment Fair, current fiscal, expected to reach to USD twenty billion, helped by new initiatives announced by the government, inclusion of state-level taxes in the computation of duty drawback, Indian garment export, major relief to the exporting segment, special package

Garment export of India estimated at $16.80 billion now, expected to reach to $20 billion (nearly Rs 1.33 lakh crore) during the current fiscal, helped by the new initiatives announced by the government for the sector, an industry official said.

The Union Cabinet last week approved a Rs 6,000 crore special package for textiles and apparel sector with an aim to create one crore new jobs in three years and attract investments of $11 billion with an eye on $30 billion in exports.

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.

Related Keywords: AEPC, Bangladeshi mills, Europe, global safety norms, Indian garment export, Indian textile industry, Indian textile ministry, Soaring costs in China

India garment exports due to steady flow of orders from Europe and a weaker rupee witnessed a jump of 23% in August to $1.38billion. With a robust growth in August, exports in the April-August period hit $7.07 billion, up 18% y-o-y, according to the Apparel Exports Promotion Council (AEPC) data.

Having slipped nearly 6% in the last fiscal and witnessing a drop in 10 of the 12 months of 2012-13, garment exports started picking up since March last year as the domestic currency continued a downward journey and demand from the US started picking up due to an economic recovery.