Post GST regime sees rise in India’s textile exports
Textiles minister Smt. Smriti Zubin Irani on Thursday informed the Council of States that textile exports have increased 6.2% post-Goods and Services Tax (GST) as compared with corresponding period pre-GST. Thus, while cotton yarn exports from India are reported to have risen from 338 million kg during April-September 2018 to 226 million kg during April-September 2019.
“India faces competition from countries like Vietnam, Bangladesh and Sri Lanka which enjoy duty free access to key markets while India faces a duty disadvantage,” the minister said. Bangladesh and Vietnam also have the benefit of scale in apparel manufacturing and a large and productive labour force, according to her.