Garment exporters demand duty reimbursement to be retained at the pre-GST (Goods and Services Tax) drawback rate of 7.5 per cent. India’s apparel exports decline to 39 per cent in value terms in October. The production of import substitute bivoltine silk in the country expected to reach around 6,200 metric tonne the first mega international trade event for the textile sector inaugurated in Gandhinagar (Gujarat) on June 30. India Handmade Bazaar, an online portal to provide direct market access to artisans and weavers, launched in January. The Textiles Ministry notifies post-GST rates under the scheme for Remission of State Levies in November. The year 2018 may turn out to be a challenging year for India’s textile and garment industry, with exporters still reeling under the impact of GST and outward shipments likely to miss the $45 bn target for 2017-18. Garment exporters have been demanding that the duty reimbursement to them be retained at the pre-GST (Goods and Services Tax) drawback rate of 7.5 per cent, amid declining outbound shipments. India’s apparel exports declined 39 per cent in value terms in October.
According to a report, however, India’s cotton production could touch 37.7 mn bales in the year that began on October 1, up from 34.5 mn bales produced in 2016/17. The production of import substitute bivoltine silk in the country is expected to reach around 6,200 metric tonne (MT) in 2017-18 as compared to 5,266 MT a year ago, registering an increase of 19 per cent, according to the Textile Ministry. Towards end of the year, a scheme for capacity building in textile sector to boost skill development and job creation was launched with an outlay of Rs.1,300 cr.
