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Related Keywords: All Industry Rate of Duty Drawback for non-fabric inputs on exports, announced Special Advance Authorization scheme, boost apparel exports, effect from first September, exporters are entitled, for fabrics including inter-lining on pre-import basis, Indian textile and apparel exports, scheme allowing duty-free import of fabric

As India expects its textile and apparel exports to touch USD 50 billion mark this fiscal from USD 38 billion in 2015-16. The Union Cabinet recently approved a Rs 6,000-crore package for the textiles sector with an aim to create one crore new jobs in three years and attract investments of USD 11 billion.

To further boost apparel exports, government has announced a ‘Special Advance Authorization’ scheme allowing duty-free import of fabric which will come into effect from September 1.

Related Keywords: consultation with industry stakeholders, export target to be missed, forging new FTAs, global markets, growth slowed down, Indian exporters facing turmoil, Indian textile and apparel exports, Ministry of Textiles, other ministires concerned, recommends corrective measures, to boost textile exports, TUFS, various internal and external factors

In the last few months, India’s textile and apparel exports growth have slowed down on account of various internal and external factors (textile and garment exports rose 0.6% to almost $18 billion in the first half of the current fiscal from a year before). The textile and garment exports target of $47.5 billion for 2015-16 with a projected growth rate of almost 14% from a year before is all set to be missed.

Related Keywords: facing harsh competition, from zero to two percent on PSF, imported fibre, Indian textile and apparel exports, Ministry of Industry, plans to increase import tax, polyester staple fibre, PVTEX, Trans-Pacific Partnership, Vietnam domestic fibre manufacturers, yarn-forward rule of origin

The Vietnam domestic fibre manufacturers have been facing harsh competition from imported fibre. The Ministry of Industry with the aim to rescue and encourage domestic production has plans to increase import tax on polyester staple fibre (PSF) from zero to 2 percent.

The Ministry plans to raise tax on staple fibre, coded 55.01, 55.02, 55.03, 55.04, 55.06 and 55.07, which are currently enjoying a zero tax rate.

Related Keywords: Chinese exports, Indian textile and apparel exports, labour unrest in Asian competitor, Make in India, OTEXA, readymade garments, US market

Indian textile and apparel exports to US have risen nearly 7 per cent during January-August 2014, according to the US Department of Commerce’s Office of Textiles and Apparel (OTEXA) data, compared with an average 2 per cent annual growth in the last five years.

The Centre’s ‘Make in India’ pitch seems to have already found resonance in the country’s textile and garment industry, with India’s exports to its largest single market, the US, headed for a record surge this year.