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India’s textile and apparel growth rate slopes down

In December 2017 the Confederation of Indian Textile Industry (CITI) had raised its apprehension over the 3 per cent decline in CAGR in textiles and apparel exports. During the period, India’s textile and apparel exports stood at US $ 2996 million as compared to US $ 3075 million in the same period of 2016, revealed data released by Ministry of Commerce and Industry.

Constant increase in imports of textiles and clothing during the same period also worried the trade association which otherwise appreciated the cumulative increase in the textiles and clothing exports during April-December 2017 at US $ 26,136 million against US $ 25,721 million in the corresponding period of last year.

Additional, as compared to US $ 137.24 million in 2017 the imports of textiles registered a 20.48 per cent increase to US $ 165.34 million in December 2017.

India noted a 66 per cent increase garment imports to US $ 111.3 million as per the data released by Export Promotion Bureau of Bangladesh, during July to December 2017 from US $ 66.9 million during the same period last year.

The data further showed that knitted garment imports from Bangladesh zoomed 77 per cent US $ 36.5 million during July-December 2017, while woven garment import increased by 62 per cent to US $ 74.8 million.

 
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