Indian Textile Exports Shrink, Mills Facing

Cash Crunch
Introduction

• Overview of India's textile and apparel industry

• Current challenges faced by the industry
• Importance of textile exports for the Indian economy
Decline in Textile Exports

• Reduction in textile exports in by 11.3%

• Cash loss faced by several mills
• Suspension of production in South India
• Decrease in export of cotton yarn, fabrics, made-ups, and handloom products
Impact on Different Product Categories

• Decline in shipment of man-made products

• Plunge in jute products and carpets exports
• Data shared by the Confederation of Indian Textile Industry (CITI)
• Worth of textile and apparel exports dipped in June 2023
Factors Affecting the Industry

• Expectation of improved export of cotton products

• Suspension of production by smaller textile mills
• Slowdown in the U.S. and EU markets
• Excess capacity and lack of cost competitiveness
Potential Solutions and Relief Measures

• Free trade agreement with the UK

• Impact of duty-free access on garment and made-up exporters
• Current financial challenges faced by the industry
• Industry's request for import duty removal and financial support
Conclusion

• Importance of addressing these challenges for the industry's revival

• Call to action for support and collaboration