{"id":305115,"date":"2024-07-22T19:42:41","date_gmt":"2024-07-22T14:12:41","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=305115"},"modified":"2024-07-22T19:42:41","modified_gmt":"2024-07-22T14:12:41","slug":"status-of-garment-sector-in-india","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/status-of-garment-sector-in-india\/","title":{"rendered":"Status of Garment sector in India"},"content":{"rendered":"

Source- This post on the Status of Garment sector in India has been created based on the article \u201cIndia\u2019s garment export woes self-inflicted: report<\/a>\u201d published in \u201cThe Hindu\u201d on 22 July 2024.<\/p>\n

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Why in the news?<\/h2>\n<\/div>\n<\/div>\n<\/div>\n

Recently, Global Trade Research Initiative (GTRI) published its report.<\/p>\n

Status of Garment sector in India<\/h2>\n
\"Garment
Source: TH<\/figcaption><\/figure>\n

1. A report by the Global Trade Research Initiative (GTRI) highlights that India’s garment export sector is struggling due to high duties, import barriers, and complex customs procedures.<\/p>\n

2. In 2023-24, garment exports were $14.5 billion, down from $15 billion in 2013-14, while Vietnam and Bangladesh saw significant growth in their exports.<\/p>\n

Key highlights of the report:<\/h2>\n

1. Comparative Decline:<\/strong> Vietnam’s garment exports grew by 82% to $33.4 billion, and Bangladesh’s by 70% to $43.8 billion, whereas India’s exports decreased.<\/p>\n

2. Import Restrictions:<\/strong> High duties and complicated import procedures for raw materials, especially synthetic fabrics, are major hurdles for Indian exporters.<\/p>\n

3. Domestic Issues:<\/strong> Quality control orders for fabric imports have increased costs for exporters, forcing reliance on more expensive domestic supplies.<\/p>\n

4. Procedural Complexity:<\/strong> Outdated customs and trade procedures require meticulous tracking of all imported materials, adding to exporters’ burdens.<\/p>\n

5. PLI Scheme Ineffective:<\/strong> The production-linked incentive (PLI) scheme for textiles, launched in 2021, has not attracted significant investment and needs revision.<\/p>\n

6. Rising Imports:<\/strong> India’s garment and textiles imports grew to nearly $9.2 billion in 2023, with further increases expected if export declines are not addressed.<\/p>\n

UPSC Syllabus: Reports and index<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Source- This post on the Status of Garment sector in India has been created based on the article \u201cIndia\u2019s garment export woes self-inflicted: report\u201d published in \u201cThe Hindu\u201d on 22 July 2024. Why in the news? Recently, Global Trade Research Initiative (GTRI) published its report. Status of Garment sector in India 1. A report by… Continue reading Status of Garment sector in India<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1305],"tags":[11872,10498],"class_list":["post-305115","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-index-reports-bodies","tag-9pm-daily-factly","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/305115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=305115"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/305115\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=305115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=305115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=305115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}