Textile exports up 6.3% post-GST

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Textiles minister Smriti Zubin Irani on Thursday told Parliament said textile exports have increased 6.2% post-Goods and Services Tax (GST) as compared with corresponding period pre-GST. “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,” she said in reply to a question in Rajya Sabha.

Besides, Bangladesh and Vietnam have the benefit of scale in apparel manufacturing and a large and productive labour force. In a separate reply to a question on decline in export of cotton yarn, she said: “There is no information regarding closure of spinning units due to decline in exports of cotton yarn”. Citing data from Directorate General of Commercial Intelligence and Statistics, she said cotton yarn exports from India is reported at 226 million kg during April-September 2019 as compared with 338 million kg during April-September 2018.

Read More at: https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/textile-exports-up-6-3-post-gst/articleshow/72388045.cms