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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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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Against the backdrop of a decline in exports this year, India on Tuesday unveiled additional fiscal incentives of around Rs 8,500 crore to promote shipments from the country for labour-intensive sectors like leather, carpet and marine products.
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CPD RMG Study Stitching a better future for Bangladesh