Export less of a drag on growth?
Inflation is likely to continue firming up gradually on the back of higher food and fuel prices but will continue to remain within RBI’s comfort zone, says Abhishek Goenka.
Heading into 2018, we are in a phase of synchronised global growth. Business sentiment and consumer confidence is on the rise, generally across major economies. The year 2017 has been an exceptional year for risk assets, especially equities. Major equity indices have hit new all time highs. Low inflation and wage growth in developed economies, uncharacteristic of this phase of economic cycle has allowed central banks to withdraw accommodation gradually.
FDI in textile need of the hour
In 2018, China will shy away from conventional textiles to concentrate more on branded apparel. This will create a huge demand-supply gap, says Avinash Mayekar.
Yes, 2018 would be the year for textiles and apparels! Let’s change ourselves in this New Year, by becoming positive in our attitude. Let us begin this year with hope. Hope that this year will be the year for the growth of Indian textile industry, hope for positive investments, and hope that the year will turn out to be the watershed year for Indian textile industry. After all, “hopes” alone have the capacity of driving crazy dreams and making them achievable.
Fuelling growth and creating employment
Indian textile and apparel market is estimated at $118 billion, 69% of which is domestic consumption while exports constitute the rest 31%.
The global apparel consumption in 2016 is estimated to be $1.7 trillion, which formed around 2 per cent of the world GDP of $73.5 trillion. EU-28 was the largest apparel consumer market worth $400 billion, which was followed by markets of the USA, China and Japan. These top four markets together constituted approximately 62 per cent of the global apparel consumption.
Purecotz Eco Lifestyle: A success story
After working in industrial sector for a few years, Amit Narke, an electronics engineer, rather decided to associate with an electrifying movement called ‘organic cotton farming’ and 100 per cent organic cotton garment manufacturing.
ORGANIC COTTON: Thorny issues stifle growth
India is still miles away from tapping the full potential of organic cotton despite a major global share of 56 per cent and a promise of 20 per cent higher return for farmers from this white gold. An ITJ Exclusive portrays the problems and prospects.
Organic textiles: Blessings for the Future!
The demand of organic textiles in India is much less and has not yet reached the peak for Indian entrepreneurs to jump into organic manufacturing, says Avinash Mayekar.
More consumer awareness is required
Global Organic Textile Standard (GOTS) is the world’s leading standard for processing of organic textiles. Sumit Gupta, India Head, GOTS, traces the growth of GOTS in India since its inception.
Exports Face a Drawback!
Misfortunes have come in battalions for textile exporters – firstly GST dilemma, then, hardening of rupee and now the axe on duty drawback rates. An exclusive ITJ Report throws some light on the issue.