Rupee Devaluation, India Textile Exports Grow

As a result of the devaluation of the rupee, the export of India textile industry in India may increase substantially in this fiscal year, and signs of recovery have been seen in the first quarter of this year.

Textile exporters feel that the depreciation of the rupee may prompt textile exports to grow by 5-10% in the current fiscal year, compared with a bleak 2012-13 year export.

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< p > > India a href= "//www.sjfzxm.com/news/index_c.asp" > dress < /a > Amit Goyal, President of the Federation of exporters (CIAE), said: "as a result of the depreciation of the rupee, the overall textile exports this year should increase by 5-10%. At the same time, India textile industry is also increasingly competitive.

Therefore, after several years of downturn, the textile industry should improve this year.

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< p > according to the statistics of India Foreign Trade Statistics Bureau, the first quarter of this fiscal year (April to June), < a href= "//www.sjfzxm.com/news/index_c.asp" > textile > /a > exports increased slightly, exports increased 0.3% from last year's 7 billion 766 million US dollars to 7 billion 793 million yuan.

In the 2012-13 year, textile exports fell 5% to 31 billion 718 million US dollars, compared with 33 billion 371 million US dollars in 2011-12 years.

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< p > in the first quarter of this fiscal year, Lu depreciated by about 5% over the same period in 2012-13 years. The impact of the rupee depreciation prompted clothing exports to grow by 11.7% in April to 3 billion 76 million US dollars in April, compared with 3 billion 437 million in the same period of 2012-13.

This is a healthy sign of textile exports revival.

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< p > industry insiders say that the market is moving from China to India because of higher production costs.

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In the first quarter of 2013-14, textile exports accounted for 10.57% of the total export volume from 10.57% to 10.78%.

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< p > however, market segmentation, such as cotton textile, artificial a href= "//www.sjfzxm.com/news/index_c.asp" > wool > /a > wool and silk, etc., is not very good export performance.

Exports of cotton textiles in the first quarter decreased by 10.4% to $2 billion 336 million, compared with $2 billion 596 million last year.

In the same period, wool exports decreased by 7.5% to $2 billion 326 million, compared with $2 billion 596 million last year, while silk exports slumped 8.6% to $95 million, compared with 104 million US dollars in the same period last year.

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< p > however, the demand for carpets in the international market soared, and the export of carpet (excluding silk) increased by 12% to $254 million, compared with $226 million in the same period last year.

Silk carpet increased from US $1 million 400 thousand to US $11 million 800 thousand.

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< p > in January 2013 -4, almost half of India's textile exporting countries saw a decline in exports.

For example, China's textile exports fell by 27%.

However, exports to the United States and Bangladesh increased by 7.5% and 16% respectively.

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< p > industry insiders say that India is now exporting raw materials to Bangladesh, and China has been purchasing many India cotton yarns since last year.

Nearly 48% of cotton yarn exports to China, so they may establish reserve stocks.

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< p > the United States imports 20% of India's garments and garments. Therefore, the growth of US market demand may promote the growth of India's textile exports this year.

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