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Presented by: Shrishti Dohare Shruti Seth Swati Sehgal Vandana Sain Yesha Bohra
Exports-India
India exports were worth 22443 Million USD in July of 2012
Source :http://www.tradingeconomics.com/india/exports
Current scenario
India is the sixth largest exporter of readymade garments with 2.6 %
market share.
The apparel sector alone contributes to 8% of total exports of India. For the entire textiles sector, the government has fixed a target of $40 billion for the current fiscal. In 201112, the countrys textiles exports stood at $32.31 billion. In the first two months of the current fiscal, garments exports jumped 30% to USD 2.3 billion year-on-year. http://www.moneycontrol.com/news/economy/govtsetsgarment-export-targetusd-14bn-for-
Key Buyers
United States Of America European Union Canada
**USA & EU together account for around 65 per cent of Indias apparel exports. Source: AEPC
Competitors
Ranked sixth China EU
Hong Kong
Turkey Bangladesh. With exports of US$ 18 bn, India is likely to fall behind Vietnam, Indonesia and Mexico and rank ninth in the world.
New Market
After the demand slowdown in the country's traditional markets the US and Europe, exporters started exploring new buyers in Latin America, Africa and Middle East countries.
India's apparel exports in April-July 2012-13 stood at $4.2 bn, against $4.9 bn same period last fiscal.
Apparel imports of the US stood at $35.9 bn, declining .05% in JanuaryJune 2012 as against the same period last calendar.
Source :http://economictimes.indiatimes.com
India's performance in that market fell 9.8% and reached $1.7 bn in January-June 2012 against $1.9 bn in January-June 2011.
EU's apparel exports too fell during the period, declining 13%
critical phase, with their exports dwindling, but not definitely to the
extent that India suffered. Textile Ministry has so far not been able to formulate a special policy to meet the export challenges faced by Indian exporters
Measures
Restructuring of loans as well as interest subsidy to the garments
Extending many export promotion schemes for readymade garment sector viz two per cent inter-subvention, two per cent Focus Market Linked scheme to USA and European Union and enlargement of countries under FMS/FPS.
..cont.
Restrictions on exports of cotton and cotton yarn which lowered the raw material prices.
Focusing on Free Trade Agreement (FTA) as apparel industry will gain by enlarging bi-lateral trade and bringing stability in the region
and five per cent on other textile items from India which
will be abolished.
.cont.
AEPC signs MoU with Israel to boost apparel trade. To target the Middle East Market Apparel Market, Apparel Export Promotion Council organized a Buyer Seller Meet in Tel Aviv, Israel from 5 6 September 2012. The MoU is aimed at enhancing trade and economic relation by expanding business and cooperation in the sphere of clothing & fashion industries,
The event will help the garment exporters find the right partners for their business.
The last India Market Days event (July 2012) generated the revenue of 58 lacs.
Current facts
Indias apparel exports to Japan have already jumped substantially. The textiles ministry hopes to ride free trade deals with Japan to target $50 billion in apparel exports over the next three years from $18 billion targeted for 2012-13. Indias share of the $31.1 billion Japanese apparel imports worth is only 0.9 per cent at present. AEPC signs MoU with Israel to boost apparel trade aimed at enhancing trade and economic relation.
The government has revised upwards the garment exports target to $18 billion from $17 billion for 201213 fiscal. For the apparel sector, the marketlinked focus product scheme was extended till the end of the current fiscal for exports to the US and the European Union.
The US and Europe together account for over 65 per cent of the countrys total textiles exports. For the entire textiles sector, the government has fixed a target of $40 billion for the current fiscal. In 201112, the countrys textiles exports stood at $32.31 billion. Continuation of the Technology Up gradation Fund Scheme (TUFS) with an allocation of Rs. 15,886 crore for the entire 12th Plan (201217).
References
http://economictimes.indiatimes.com www.moneycontrol.com/news/business/garm ent-exports-to-non-traditional-markets. http://www.tradingeconomics.com/india/exp orts