India’s textile exports are lower than expected

India’s textile exports are lower than expected

Estimations expect the India’s textile exports the fiscal year 2013-14 (ending February 1) will miss the goal of USD 43 billion, despite depreciation of the Rupee

Provisional data shows that textile and garment exports amounted to USD 20.43 billion April-December 2013, or a plus of 13.4 %. It is expected that the fiscal year’s overall textile and garments exports will settle around USD 40 billion, this would be an increase of 17.6 % against the former fiscal year.

From April to December 2013 the Rupee was decreasing its value by 11.6 %. According to industry voices this has helped exports to the U.S. and coincided with a certain pick up of orders from America. India has also expanded its exports to new destination markets, compensating to a certain extent the sluggish economic development in other traditional regions.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.