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Note On Indian Textile And Clothing Essay

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Note on Indian Textiles and Clothing exports (Updated on 28.08.2012) Introduction

India’s textiles and clothing industry is one of the mainstays of the national economy. It is also one of the largest contributing sectors of India’s exports worldwide. The report of the Working Group constituted by the Planning Commission on boosting India’s manufacturing exports during 12th Five Year Plan (2012-17), envisages India’s exports of Textiles and Clothing at USD 64.41 billion by the end of March, 2017. The textiles industry accounts for 14% of industrial production, which is 4% of GDP; employs 45 million people and accounts for nearly 11% share of the country’s total exports basket. 2. i) Milestones Exports of textiles and clothing products from India have increased steadily over the last few years, particularly after 2004 when textiles exports quota stood discontinued. India’s Textiles & Clothing (T&C) exports registered a robust growth of 25% in 2005-06, recording a growth of US$ 3.5 billion over 2004-05 in value terms thereby reaching a level of US$ 17.52 billion and the growth continued in 2006-07 with T&C exports of US$19.15 billion recording a increase of 9.28% over the previous year and reached USD 22.15 billion in 2007-08 denoting an increase of 15.7% but declined by over 5% in 2008-09. Exports of Textiles & Clothing grew from USD 21.22 billion in 2008-09 to USD 22.41 billion in 2009-10 and has touched USD 27.47 billion in 2010-11. In the financial year 201112(P), exports of textiles and clothing, has grown by 20.05% over the financial year 2010-11 to touch USD 33.31 billion. The details of India’s textiles exports, principal commodity item-wise during the last three years and current financial year for the period April’12 is at Annex-I. During the year 2010-11, Readymade Garments account for almost 39% of the total textiles exports. Apparel and cotton textiles products together contribute nearly 73% of the total textiles exports. The exports basket comprise a wide range of items including readymade garments, cotton textiles, handloom textiles, man-made fibre textiles, wool and woolen products, silk, jute and handicrafts including carpets.

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India’s textiles products, including handlooms and handicrafts, are exported to more than a hundred countries. However, the USA and the EU, account for about two-thirds of India’s textiles exports. The other major export destinations are China, U.A.E., Sri Lanka, Saudi Arabia, Republic of Korea, Bangladesh, Turkey, Pakistan, Brazil, Hong-Kong, Canada and Egypt etc. As per the latest available export data, the salient features of the overall textile exports for the period 2011-12(P) are as follows:

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(a) Overall Exports  The total textile exports during 2011-12(P) were valued at Rs 159570.55 crore as against Rs 126281.18 crore during the corresponding period of financial year 2010-11, registering an increase of 26.36 percent in rupee terms.  In US dollar terms, the same was valued at US$33310.21 million as against US$ 27747.98 million during the corresponding period of previous financial year registering an increase of 20.05 percent in US$ terms.  However, the share of textile export as against India’s total export of all commodities has declined to 10.93 percent from 11.0...

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