Smriti Irani, Union Textile Minister, told the Parliament that Indian textile exports have seen an increase of 6.2 per cent after the implementation of Goods and Services Tax (GST).
Speaking on the matter, the Minister said in the Parliament, “India faces competition from countries like Vietnam, Bangladesh and Sri Lanka which enjoy dutyfree access to key markets while India faces a duty disadvantage.”
Having the advantage of scale in apparel manufacturing, Bangladesh and Vietnam are home to a large and productive labour force, therefore making them attractive to multinational apparel brands.
She went on to assert that there is no information available about the closure of spinning units resulting from a decline in exports of cotton yarn.
She said cotton yarn export from India is reported at 226 million kg during April-September 2019 as compared with 338 million kg during April-September 2018 according to data from Directorate General of Commercial Intelligence and Statistics.
