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The textile and clothing sector is showing signs of recovery and is expected to perform better in the export and domestic markets this year, said an industry official
"The sector that has a big success following the demonetization, the appreciation of the rupee and the high prices of domestic cotton finally show some signs of recovery, "said Sanjay K. Jain, president of the Confederation of Indian Textile Industries (ISIC) )
. Mr. Jain, citing the RBI's Financial Stability Report – June 2018, said that the anticipated rate of progress in the textile subsector had improved in March of this year compared to September's levels of the industry. Last year. It was 23.7% last September and 22.3% in March this year.
The size of the industry is nearly $ 120 billion. Exports accounted for $ 37 billion. "After [implementation of GST] there was stress in the industry for several reasons.
" Now, overall demand in the domestic market has improved. As the dollar strengthens, exports will also increase. In April-May this year, yarn exports have increased. This trend will soon also manifest itself in fabrics and clothing, "he said.
Growth of Imports
However, growth in imports is a concern for the United States. industry -2018, imports of textiles and clothing reached $ 7 billion, 16% more than the year before
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