Textile and garment exports are likely to miss the USD 45 billion target for 2017-18, as the industry reels under the impact of GST roll out and tariff advantages enjoyed by competitors like Bangladesh and Vietnam, according to textile industry body CITI.
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With India's apparel exports further declining by 10.25 per cent during the month of February 2018 against the corresponding month of February 2017, industry body Apparel Export Promotion Council (AEPC) has raised concerns over the downward trend.
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If the 10-month data from April 2017 to January 2018 is anything to go by, India's apparel industry may post a rare decline in exports for the current fiscal 2017-18, let alone meeting the $20 billion target.
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CPD RMG Study Stitching a better future for Bangladesh