India’s textile exports association says, in the past six quarters, man-made fiber exports has been declining, however, exports are expected to rebound in 2013-14, to reach 60 billion dollars.
“In the past 10 years, man-made fiber textile production continued to grow, but due to the slow recovery of the global economy, exports over the past six quarters appeared negative growth.”
“However, man-made fiber textile export has rolled into a recovery path, our target for the 2013-14 year is $ 6,000,000,000.” Synthetic and Rayon Textiles Export Association (SRTEPC) • President Rakesh Mehra said.
In 2012-13, the Indian textile and clothing exports is $ 31.7 million, man-made fiber exports is 53.7367 billion. Mehra said that in addition to strengthening the existing United States, Europe and West Asia market, Synthetic and Rayon Textiles Export Association is working to develop new markets, such as Latin America and Africa.
He added that, in order to increase exports of man-made fibers, Synthetic and Rayon Textiles Export Association has requested the government to reduce interest rates, and the tax rebate rate from the current 4% amend to about 7% correction.
China become the favorite market of India’s yarn manufacturers
Indian yarn manufacturer received a lot of overseas purchase orders from many countries, but now China has become the favorite market of yarn manufacturers.
The region’s manufacturers say that, the proportion of China’s currency tendency in favor dollars, which helps them to get a better return from exports to China. Moreover, China’s orders required to complete in the shortest time, therefore, India’s yarn exports to China increased from earlier 45% soared to 70%.
In the last three months, India’s yarn manufacturers received the most purchase orders from China. Supplied for China up to 10 days, while deliveries to European you will need a month. This time difference allows manufacturers to accomplish more supply orders in a month.
In addition, China’s shipping lower than European countries. Manufacturers also said that in terms of quality control standards, China is more convenient than the European standard.
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