Following improved market conditions in US and other markets, India's garment exports are expected to clock 15-18% growth in the financial year 2017-18, as against $17 billion registered in last fiscal. Textile Commissioner Kavita Gupta has said that since January 2017, the country has registered 18% growth in garment exports and she expects that similar trend may continue for remaining period this year.
Gupta has said that Rebate of State Levies (ROSL) scheme has been introduced to boost exports. She also said that the government has given an additional 10% subsidy for the garment and made up segments, which means the home textile industry will effectively get 25% capital investment subsidy on new machines they bring in, leading to efficiency and modernisation of the sector. She added that subsidies have proved beneficial for the sector and led to increase in employment and attracted huge investments.
The commissioner further said that the textile industry should utilise the various government schemes for the benefit of customers. She also noted that the industry is looking at entering into CIS, Africa and Far East markets to increase garment exports, apart from traditional markets of US and Europe.