Economic survey calls for a focus on textile exports
1 month, 3 weeks ago

Economic survey calls for a focus on textile exports

Hindustan Times  

The 2024-25 Economic Survey has recommended throwing the kitchen sink at the textile export challenge to exploit the economic potential of this sector. The Survey’s discussion on untapped potential of the textile sector builds on an analysis of India’s underperformance in labour intensive sectors including textiles in the same document four years ago. First is “a lack of localisation and the complexity of the value chain” in Indian textile ecosystem, which “in turn, results in higher costs relative to global competitors”. India’s share of global MMF production is currently 9.2%, and the potential to catch up with the production levels of global leaders like Vietnam, China, and Taiwan is high”, it says. “While there are tailwinds which will support the growth of India’s textile exports, these cannot be fully exploited without lowering the costs of the textile basket and deepening our market share in the MMF sector.

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History of this topic

Tariff-proofing India’s exports
3 days, 3 hours ago

Tariff-proofing India’s exports

Hindustan Times  

The tariff turmoil from the United States is emerging as the biggest ‘known unknown’ for the global economy in 2025. Indian economy For some time now, the relative stability of the World Trade Organization -refereed trade regime has cultivated a wide-spread complacency with global trade ballooning nearly five times since the creation of WTO. The long entrenchment in stable global …

India’s exports may face 3-3.5% hit from US tariffs, but trade diversification may cushion impact: SBI Research
Trending News
5 days, 19 hours ago

India’s exports may face 3-3.5% hit from US tariffs, but trade diversification may cushion impact: SBI Research

Live Mint  

New Delhi: India’s exports to the US could decline by 3-3.5% if Washington implements reciprocal tariffs next month, but this may be offset by ambitious targets in manufacturing and services, along with efforts to diversify exports, SBI Research said in a report on Monday. New Delhi also must boost value addition, tap new markets, and establish alternative trade routes from …

Textiles sector eyes zero tariffs in India-US trade
2 weeks, 1 day ago

Textiles sector eyes zero tariffs in India-US trade

Live Mint  

New Delhi: Zero for zero is the buzzword in India’s textile and apparel industry as sector leaders urged the government to push for nil tariffs either way for trade between India and the US. According to Prabhu Dhamodharan, convenor of the Indian Texpreneurs Federation, India's current 5.9% share in US apparel imports could increase to 10% if zero-duty access is …

India Eyes $6B Export Boost with US Trade Deal
2 weeks, 1 day ago

India Eyes $6B Export Boost with US Trade Deal

Deccan Chronicle  

Chennai: The textile industry hopes that a zero-for-zero trade agreement with the US will increase exports by $6 billion in three years. The US contributed to 28.5 per cent of India’s total textile and apparel exports between January and November 2024. However, the recent trade tensions saw US firms partially moving away from China and this has benefited Vietnam and …

India-U.S. trade: Small exporters seek import duty cuts to counter U.S. steel, aluminium tariffs
2 weeks, 3 days ago

India-U.S. trade: Small exporters seek import duty cuts to counter U.S. steel, aluminium tariffs

The Hindu  

India's small engineering goods exporters have urged the government to cut import tariffs on some U.S. goods to try and achieve more favourable trade terms as President Donald Trump prepares to implement new steel and aluminium duties, the head of an industry body said. "Of India's $20 billion annual engineering goods exports, nearly $7.5 billion worth of shipments could be …

India's exports under pressure as US and EU tighten trade policies
2 weeks, 5 days ago

India's exports under pressure as US and EU tighten trade policies

India Today  

India’s exports are facing heightened challenges owing to aggressive trade policies from partners like the US and the European Union, said a senior trade ministry official on Tuesday, reported Reuters. Santosh Sarangi, head of the Directorate General of Foreign Trade, pointed to the increased import tariffs by the US and policies like the CHIPS Act, which support local manufacturing. He …

Aim for threefold surge in exports to $100 bn in seven years: Goyal to electronics sector
3 weeks, 5 days ago

Aim for threefold surge in exports to $100 bn in seven years: Goyal to electronics sector

Live Mint  

New Delhi: India’s electronics goods sector should target to boost exports by more than threefold to over $100 billion over the next seven years, said Union commerce minister Piyush Goyal, emphasizing the need for stronger supply chains and globally competitive pricing amid global trade headwinds. The sector should prioritize consumer interests and strike a balance between industry growth and affordability, …

India's innerwear exports face a Chinese problem
1 month ago

India's innerwear exports face a Chinese problem

Live Mint  

New Delhi: India’s dependence on Chinese raw materials for garment manufacturing, particularly in the innerwear segment, is hurting the domestic industry. As per the data, the women’s and girls’ innerwear category faced similar hurdles, with exports of slips and nightdresses decreasing from $627.74 million in FY22 to $499.86 million in FY24, reflecting a fall of 20.37%. The underwear index As …

India’s exports surge to $74.97 bn in Jan 2025 from $68.33 bn, trade deficit rises to $2.67 bn
1 month ago

India’s exports surge to $74.97 bn in Jan 2025 from $68.33 bn, trade deficit rises to $2.67 bn

Live Mint  

New Delhi, : India's overall exports, comprising both merchandise and services, rose to USD 74.97 billion in January 2025, marking an increase from USD 68.33 billion in January 2024, according to data released by the Commerce Ministry. However, the country's trade deficit too widened to USD 2.67 billion from USD 0.39 bn as imports surged to USD 77.64 billion, compared …

PM envisions Rs 9L-cr textile exports by 2030
1 month ago

PM envisions Rs 9L-cr textile exports by 2030

Deccan Chronicle  

New Delhi: Prime Minister Narendra Modi expressed optimism on Sunday that India's textile sector will achieve an annual export target of Rs 9 lakh crore ahead of the 2030 deadline. Speaking at Bharat Tex 2025, a mega global textile event showcasing India's cultural diversity through traditional garments, Modi said, “We are currently ranked as the 6th largest exporter of textiles …

PM Modi hopeful of achieving ₹9 lakh-cr textile exports ahead of 2030 deadline
1 month ago

PM Modi hopeful of achieving ₹9 lakh-cr textile exports ahead of 2030 deadline

The Hindu  

Prime Minister Narendra Modi on Sunday said he is optimistic that the textile sector will achieve the Rs 9 lakh crore annual exports target ahead of the 2030 deadline. Speaking at the Bharat Tex 2025, Mr. Modi said, "We are currently ranked as the 6th largest exporter of textiles and apparel in the world, with textile exports valued at approximately …

India’s merchandise exports forecast to reach $124.8 billion in Q4FY25: Exim Bank
1 month, 1 week ago

India’s merchandise exports forecast to reach $124.8 billion in Q4FY25: Exim Bank

Live Mint  

New Delhi: India’s merchandise exports are projected to reach $124.8 billion in the fiscal fourth quarter, marking a 3.64% year-on-year increase, according to estimates from the Export-Import Bank of India. Meanwhile, India's merchandise trade deficit fell to a three-month low of $21.94 billion in December 2024, as higher exports offset import pressures. The commerce ministry recently revised November's gold import …

As India waits and watches, a plan is in the making to counter Trump’s tariff challenge
1 month, 2 weeks ago

As India waits and watches, a plan is in the making to counter Trump’s tariff challenge

Firstpost  

According to data from the commerce ministry, the total export value in sectors such as textiles, electronics, engineering goods and pharmaceutical products to the US increased from $38.84 billion in FY22 to $46.43 billion in FY24. As the world’s fifth-largest economy, India is focused on avoiding tariff increases, particularly on key export categories such as textiles, electronics, engineering goods and …

As India waits and watches, a plan is in the making to counter Trump’s tariff challenge
1 month, 2 weeks ago

As India waits and watches, a plan is in the making to counter Trump’s tariff challenge

Firstpost  

According to data from the commerce ministry, the total export value in sectors such as textiles, electronics, engineering goods and pharmaceutical products to the US increased from $38.84 billion in FY22 to $46.43 billion in FY24. As the world’s fifth-largest economy, India is focused on avoiding tariff increases, particularly on key export categories such as textiles, electronics, engineering goods and …

Modi govt's budget boost for textile industry: India aims to increase production and exports amid Bangladesh crisis
1 month, 2 weeks ago

Modi govt's budget boost for textile industry: India aims to increase production and exports amid Bangladesh crisis

Op India  

On Saturday, 1st February, the Union Budget presented by Finance Minister Nirmala Sitharaman gave a big boost to the textile industry announcing a 19% increase in the Budget Estimates for AY 2026-27. How Bangladesh crisis may help India in Textile sector Interestingly, the ongoing political crisis in the neighboring country of Bangladesh is aiding India’s garment industry to flourish by …

Budget 2025: New export promotion mission aims to boost growth and narrow trade deficit
1 month, 3 weeks ago

Budget 2025: New export promotion mission aims to boost growth and narrow trade deficit

Live Mint  

Finance minister Nirmala Sitharaman on Saturday, 1 February, unveiled an Export Promotion Mission, spearheaded by the ministries of commerce, finance, and micro, small, and medium enterprises, to position exports as a key driver of economic growth. Part of the budget announcements for 2025-26, the initiative aims to narrow India’s trade deficit, which hit a record $32.8 billion in November 2024. …

Textile stocks Ambika Cotton Mills, Arvind and others soar up to 10% as FM announces 5-year cotton mission
1 month, 3 weeks ago

Textile stocks Ambika Cotton Mills, Arvind and others soar up to 10% as FM announces 5-year cotton mission

Live Mint  

Union Budget 2025: Indian textile stocks surged in today's trade, February 01, after Union Finance Minister Nirmala Sitharaman in her budget speech announced a 5-year mission to facilitate improvements in productivity and sustainability of cotton farming. Set to propel India’s textile industry forward T Manish, Research Analyst, SAMCO Securities, “The five-year mission for cotton productivity aims to enhance the quality …

Textiles sector should address issues related to cost competitiveness: Economic Survey
1 month, 3 weeks ago

Textiles sector should address issues related to cost competitiveness: Economic Survey

The Hindu  

Lack of localisation and complexity of the Indian textile value chain result in higher costs for Indian exporters in the textile sector, relative to global competitors. In contrast, vertically integrated ‘fibre-to-fashion’ firms in competitor nations such as China and Vietnam export low-cost products, maintain consistent quality, and are “nimble enough to adjust to the fast-changing nature of the industry,” said …

Apparel imports surge since September
1 month, 3 weeks ago

Apparel imports surge since September

Deccan Chronicle  

Chennai: While India has seen its apparel exports growing in 2024, apparel imports into the country have recorded a surge - growing in double-digits since September. Indian apparel exports grew 8.39 per cent from $14.4 billion in calendar year 2023 to $15.7 billion in 2024. In September, apparel imports grew by 16.8 per cent and in October it grew by …

Budget 2025 | Textile industry seeks interest subsidy, lower PLI investment floor in budget
1 month, 3 weeks ago

Budget 2025 | Textile industry seeks interest subsidy, lower PLI investment floor in budget

Live Mint  

India's textile industry, a key driver of the economy, employs about 45 million people and contributes significantly to the nation’s exports. The demands include extending the interest equalization scheme for three years to help exporters remain cost-competitive and revising the production linked incentive scheme with lower investment thresholds. Industry is also embracing sustainability, with eco-friendly practices and green technologies becoming …

Apparel and textile exports register growth despite challenges
2 months ago

Apparel and textile exports register growth despite challenges

The Hindu  

Apparel exports registered 12.9 % growth in dollar terms in December 2024 compared with the previous year and cumulative exports for April - December of 2024 registered 11.6 % growth as against the same period the previous year. Sudhir Sekhri, chairman of the AEPC said in a statement, “This is the appropriate time when India needs to capitalise this opportunity …

Rising imports worry apparel manufacturers
2 months ago

Rising imports worry apparel manufacturers

The Hindu  

India imported garments worth ₹8,900 crore from April to November, 2024 and the year 2024-2025 is likely to end with almost ₹13,000 crore worth apparel imports, according to the Indian Texpreneurs Federation. “Textile clusters and retailers must collaborate to address factors influencing imports such as pricing, quality, design, and product range. Retail brands in India must partner with domestic manufacturers …

India’s Services Exports Hit Historic High In Oct, Find Out Why
2 months, 3 weeks ago

India’s Services Exports Hit Historic High In Oct, Find Out Why

ABP News  

India’s services exports reached a historic high of $34.31 billion in October, a commerce ministry official revealed. The official further noted that India has made a name for itself as a global leader in digitally delivered services exports, backed by its strong IT sector and skilled workforce, reported PTI. In the last two decades, India grew from $30 billion in …

Textiles exports a silver lining as India’s trade deficit widens
2 months, 3 weeks ago

Textiles exports a silver lining as India’s trade deficit widens

Live Mint  

New Delhi: India’s textiles sector has emerged as a beacon of resilience and growth, recording an impressive 36.65% increase over the last four years, although industry stakeholders aren't much enthused by the resurgence. Rising from $17.05 billion in FY21 to $23.30 billion in the last eight months of the current fiscal year, this growth underscores the sector’s ability to adapt …

Rupee at 85 to a Dollar: Sinking Towards 100?
3 months ago

Rupee at 85 to a Dollar: Sinking Towards 100?

The Quint  

India has indeed developed a strong export franchise in not only IT services but also in setting up global capability centers that employ over 1.5 million talented Indians for highly productive use. India, in contrast to its merchandise counterpart, import much less of services, and generate good surplus despite Indians’ itch to travel abroad and seek overseas education. India exported …

Export of special technical textile products on rise, says NTTM official
3 months ago

Export of special technical textile products on rise, says NTTM official

The Hindu  

“Export of special technical textile products grew 6.2% between April and November compared with the same period last year,” said Ashok Kumar Malhotra, Mission Director of the National Technical Textiles Mission. Mr. Malhotra told The Hindu on Friday that the exports were worth ₹2,915 crore from April to November this year compared to ₹2,345 crore during April - November last …

Services led exports are a mixed blessing for the Indian economy
3 months ago

Services led exports are a mixed blessing for the Indian economy

Live Mint  

If every cloud has a silver lining, the glow around India’s data that shows November’s trade deficit at a record high of $37.9 billion is the remarkable performance of service exports. In a scenario where US President-elect Donald Trump has threatened to slap “reciprocal" tariffs on India, this strong showing of service exports and declining reliance on the export of …

DC Edit | Time to focus on service sector
3 months ago

DC Edit | Time to focus on service sector

Deccan Chronicle  

India’s service exports outstripped merchandise exports for the first time ever in November 2024, according to the commerce ministry’s trade data. After sustained growth beginning from February 2024, service exports stood at $37.6 billion and merchandise exports at $32.1 billion in November 2024. While India is known to export more services than it buys from other countries, the value of …

India’s imports rises to 27%, touches to record high of almost $70 billion
3 months, 1 week ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

India's export dips by 4.85 per cent to USD 32.11 in November: Government Data
3 months, 1 week ago

India's export dips by 4.85 per cent to USD 32.11 in November: Government Data

India TV News  

India's export dips by 4.85 per cent to USD 32.11 in November: Government Data Ministry of Commerce has shared a dip of 4.85 per cent in the merchendise exports in November. As per the government data released on Monday, India’s merchandise exports fell to UDS 32.11 billion in November while the import bill jumped 27 per cent to a record …

India’s exports rise, boosting global presence
3 months, 2 weeks ago

India’s exports rise, boosting global presence

Deccan Chronicle  

New Delhi: India is eyeing to be a global economic powerhouse with its remarkable achievements in the export landscape. “India’s export performance in several key product categories has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023,” the ministry said. “The petroleum sector …

Size matters: Decoding Indian manufacturing’s problem of scale
3 months, 3 weeks ago

Size matters: Decoding Indian manufacturing’s problem of scale

Live Mint  

New Delhi: The production-linked incentive scheme—one of the ways in which this government was hoping to increase manufacturing in India—is going through a slowdown, with planned expansions to the programme being put on hold. Size does matter As of 2019, the last date for which data was available, Bangladesh’s ALTF sector employed 2.45 million people, with 66% of those working …

Demand from European markets fuels recovery in India’s textile exports amid Bangladesh crisis
4 months ago

Demand from European markets fuels recovery in India’s textile exports amid Bangladesh crisis

Live Mint  

Indian textile exports are showing signs of recovery in FY25, with demand from European markets playing a crucial role in boosting figures, according to data from the ministry of commerce and industry. However, the numbers still fall short of the $5.84 billion achieved during FY23, the commerce ministry data showed, highlighting recovery challenges despite the growing interest in Indian textiles …

India: Services Exports to Surpass Merchandise Shipments by 2030
4 months ago

India: Services Exports to Surpass Merchandise Shipments by 2030

Deccan Chronicle  

Chennai: With a growth rate double that of merchandise exports, services export is set to surpass the former in five years. Between FY2019 and FY2024, India’s merchandise exports grew at a compound annual growth rate of 5.8 per cent, while services exports surged ahead at a robust CAGR of 10.5 per cent. According to GTRI, at this rate, services exports …

India’s services exports to surpass goods exports by FY30, says GTRI report
4 months ago

India’s services exports to surpass goods exports by FY30, says GTRI report

Live Mint  

New Delhi: India’s services exports will outpace merchandise exports by 2030, marking a major shift in the country’s trade dynamics, economic think tank Global Trade Research Initiative said in a report on Wednesday. The report, titled 'India’s Services Export Revolution: Set to Outpace Merchandise by 2030' said services exports are projected to be $618.21 billion, slightly higher than merchandise exports …

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct
4 months ago

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct

Live Mint  

New Delhi: India's merchandise exports continued their upward trajectory during April-October, with 21 of the top 30 sectors registering growth in value terms, buoyed by rising global demand for Indian goods. Growth in key sectors like pharmaceuticals, electronics, and engineering goods contributed to the overall gains, while a sharp decline was reported in traditionally strong sectors—petroleum and gems and jewellery—amid …

Cotton is passé. Can India ever make it big in this fashionable textile market?
4 months ago

Cotton is passé. Can India ever make it big in this fashionable textile market?

Live Mint  

Chennai: It was early June 2021. Once MMF textile exports pick up, the quality of raw material will improve," said Rajkumar Agarwal, managing director, SVG Fashions Pvt. The government has applied the Quality Control Order, a regulatory standard that ensures that products sold in India are of good quality, on select polyester filament yarn imports such as ‘fully drawn yarn’. …

Textiles, auto components and telecom vulnerable to tariff war
4 months ago

Textiles, auto components and telecom vulnerable to tariff war

Deccan Chronicle  

Chennai: US, being the largest market for India, probable tariff hikes under the Trump presidency can impact shipments of certain segments, including textiles, chemicals, metal products, and telecom products. Any adverse policy action around tariffs or taxes could affect India's competitiveness against countries like Bangladesh and Vietnam. Any rise in duties could impact the Indian export volumes substantially, which may …

Merchandise exports surge amid focus on key markets, countries
Trending News
4 months, 1 week ago

Merchandise exports surge amid focus on key markets, countries

Hindustan Times  

India’s merchandise exports registered 17.25% growth to $39.20 billion in October over the same month last year, with non-petroleum exports aggregating a record $211.34 billion in the first seven months of current financial year despite global headwinds, commerce secretary Sunil Barthwal said, crediting a concerted policy push and Christmas demand for the growth. India’s services exports in October 2024 is …

India will meet its exports target of USD 800 billion this year: Commerce Secretary
4 months, 1 week ago

India will meet its exports target of USD 800 billion this year: Commerce Secretary

Op India  

India’s exports surged by over 19 per cent in October. Commerce Secretary Sunil Barthwal was upbeat on the trade data and said, “It has been an extremely good month for us, and not only our overall export progress has been extremely good, but if you look at April to October, this has been the highest ever non-petroleum exports from this …

Higher fibre prices worry apparel, home textile makers as demand improves
4 months, 1 week ago

Higher fibre prices worry apparel, home textile makers as demand improves

Deccan Chronicle  

Chennai: Apparels and home textiles are hopeful about robust demand in the international market, especially the US. Similarly, home textiles segment is set to grow by 6-8 per cent this fiscal, riding on resilient demand from the US and expansion in the domestic market, finds Crisil. Home textiles derive 70-75 per cent of its revenue from exports and the US …

Merchandise exports set for modest rebound, to hit $107.5 billion in Q3: India Exim Bank
4 months, 1 week ago

Merchandise exports set for modest rebound, to hit $107.5 billion in Q3: India Exim Bank

Live Mint  

India's merchandise exports are likely to rise 1.85% year-on-year to $107.5 billion in the third quarter of FY25, according to India Exim Bank. Exim Bank has projected non-oil exports at $91.7 billion, marking a year-on-year growth of 7.39%. Read this | RITES sets sights on Africa for export of refurbished and underutilized railway diesel locos This anticipated growth signals a …

Can India’s garments industry benefit from Bangladesh’s turmoil?
4 months, 2 weeks ago

Can India’s garments industry benefit from Bangladesh’s turmoil?

Live Mint  

Asia’s rise has been stitched together by the textile industry. Recently a group of exporters based in Tiruppur, a textile hub in southern India, said it had earned fresh orders worth $54m because of the unrest in Bangladesh. The head of sourcing at Gap says the American fashion brand remains “cautiously optimistic” about Bangladesh’s future. Between 2016 and 2023 the …

Competing in the Global Apparel Arena: How India Can Rise Above the Textile Tide
4 months, 3 weeks ago

Competing in the Global Apparel Arena: How India Can Rise Above the Textile Tide

Hindustan Times  

India's textile and apparel sector holds significant potential to create more and better employment, especially from the labour-intensive apparel segment. However, the sector faces important challenges in adapting to global market demands. It requires both the government and private sector to play their part. The government could help by rationalising domestic taxation and reducing import tariffs along the entire supply …

Indian Apparel Exports Soar 17.3% in September, Boosting Global Supply Chain
5 months ago

Indian Apparel Exports Soar 17.3% in September, Boosting Global Supply Chain

The Hindu  

Indian apparel exports saw a significant surge in September, with a 17.3% increase compared to the same period last year. This growth is expected to continue in the coming months, with 15%-20% higher exports projected for 2024-2025. This surge is attributed to the increasing popularity of Indian products and the growing focus on sourcing from India by international buyers.

India targets $1 trillion exports by 2030: Coimbatore DGFT
5 months, 3 weeks ago

India targets $1 trillion exports by 2030: Coimbatore DGFT

New Indian Express  

TIRUPPUR: India has an ambitious target of exporting goods worth $1 trillion USD by 2030, said Anand Mohan Mishra, Joint Director General of Foreign Trade of Coimbatore, during a seminar ‘Export Finance and Trade Facilitation for the Apparel Industry’ in Tiruppur on Saturday. Speaking among the exporters in Tiruppur, Mishra said, “ Each and every part of the export community …

Is the spike in India’s trade deficit a worry?
6 months ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

Apparel exports grew 12% in August to more than $1.2 bn
6 months ago

Apparel exports grew 12% in August to more than $1.2 bn

The Hindu  

Apparel exports registered 11.9% growth in August to $1,268.2 million compared with $1,133.5 million last August. In rupee terms, exports were 13.4% higher last month compared with last August and 8.7% more in April-August FY25 compared with the corresponding period in FY24. Mithileshwar Thakur, Secretary General, Apparel Export Promotion Council, said in a press statement that exports to Japan, Korea, …

No significant impact on India Inc from Bangladesh crisis: Study
6 months ago

No significant impact on India Inc from Bangladesh crisis: Study

New Indian Express  

MUMBAI: Prolonged unrest in Bangladesh can affect Indian companies for which the neighbouring country is a demand centre or production hub but the impact is likely to be minor, said a new study on Wednesday. Merchandise exports mainly comprise cotton and cotton yarn, petroleum products, electric energy etc, while imports largely consist of vegetable fat oils, marine products and apparel. …

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