Textile Exports Expected to Rise by 6% to USD 40 Billion in FY 17: ICRA
July 19, 2016
Textile exports from India is likely to grow to USD 40 billion in 2016-17, due to the expected growth in the apparel segment and higher fiber prices, according to ICRA research.
Despite the volume growth in most of the segments, textile sectors witnessed de-growth in 2015-16 due to the lower fiber prices including cotton and polyester, said ICRA.
In 2016-17, the raw-cotton export is expected to decline but the other segments especially apparels will head northwards due to the improved export competitiveness supported by the recent financial package for the textile industry, said senior official of ICRA.