The Confederation of Indian Textile Industry (CITI) has raised its concern over the 3 per cent decline in CAGR in textiles and apparel exports in December 2017. 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.
Consistent 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.
Further, the imports of textiles registered a 20.48 per cent increase to US $ 165.34 million in December 2017 as compared to US $ 137.24 million last year.
As per the data released by Export Promotion Bureau of Bangladesh, India noted a 66 per cent increase garment imports to US $ 111.3 million 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.