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Textiles, clothing exports jump 11% in July on govt policies, falling rupee

Total textiles exports witnessed a jump of 15 per cent to Rs 108.79 billion ($1.58 billion) for July 2018 versus Rs 94.29 billion ($ 1.46 billion) in the comparable month of previous year. Moving in tandem, India’s apparel exports recorded a jump of 6 per cent to Rs 87.57 billion ($1.27 billion) for July 2018 as against Rs 82.63 billion ($1.28 billion) for the same month last year. Sudden surge in India’s textiles and apparel exports, however, is attributed to supportive government policies which prompted the government to expedite refund on state and Goods and Services Tax https://www.labtest.co.th/product/stroboscopes/ (GST) levies on raw materials. Also depreciation in the rupee against the dollar helped Indian exporters to expedite execution of orders and also receivables. The textiles and clothing sector in India is on the verge of turnaround. Their exports have jumped in 11 per cent after a steep fall between April & July quarter. It seems the worst is over for India’s textiles and clothing industry,said Sanjay Jain, Chairman, Confederation of Indian Textile Industries (CITI). ALSO READ: New export-oriented industrial policy to https://www.labtest.co.th/product/verivide-cac-60/ focus on textile, leather sectors Indian textile sector is the largest industrial employment provider, employing more than 100 million people directly and indirectly and a major http://www.labtest.co.th/product/crockmaster/ industry for the economic growth of the country. Overall growth in exports during Apr - July 2018, therefore, stood 3 per cent vis-à-vis same period last year. Further, the manmade fibre (MMF) segment, which is expected to be the growth driver of the industry in the coming years, has seen https://www.labtest.co.th/product/trufade-light-fastness-tester/ increase in production.

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