Indian textile, apparel market grows to 100 bln USD in FY 2018-19: consultancy firm - 07th June 2019
MUMBAI, June 6 (Xinhua) -- The Indian textile and apparel market has grown at a compounded annual growth rate of 10 percent since the fiscal year 2005-06 to 100 billion U.S. dollars in the fiscal year 2018-19, according to a theme paper released by Wazir Advisors, a management consultancy firm, Thursday.
China is expected to report a sharper drop in exports for May as higher U.S. tariffs bite, while imports are likely to contract in a further sign of weakening domestic demand that could spark more stimulus measures.
The Goods and Services Tax (GST) Council, which is likely to meet for the first time after elections in the first half of this month, is likely to take up rationalisation of rates in the textile sector in line with the global markets.
NEW DELHI: Representatives of central and state governments, industry and exporters will meet on June 6 to discuss ways to boost exports amidst growing protectionism globally, an official said.
A Reserve Bank of India-appointed committee, headed by Nandan Nilekani, has said that digital payments have grown 10-fold over five years and has set a target for additional growth of 10x in three years.
Interest subvention for exporters, besides not picking up, goes against WTO norms. A solution is to extend it to all MSMEs.