Indian cotton textile export reported a growth of 26 percent at $6,235 million in the first six months ended September 2018. The industry is expecting to gather new export opportunities in midst of still lingering US and China trade issue. India had exported about $4,917 million worth cotton textiles in April-September 2017-18. The export of cotton textile includes raw cotton, yarn, fabrics and made-ups.
India is the second largest textile exporter globally. At present, cotton yarn and fabric exports count about more than 23 percent of India's total textiles and apparel exports. Even though, the country's exports on textiles and clothing dipped by 3 percent with a dip of 16 percent in readymade garments.
The government of India has introduced the package for the MSME sector to promote exports which would improve competitiveness. Interest subvention on pre-shipment and post-shipment finance for exports by MSMEs has been increased from 3 percent to 5 percent.