Apparel Online Bangladesh Magazine February Issue 2019 | Page 52
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Indian apparel & textile sector on road
to revival: CITI
The stressed advance ratio of
the textile sub-sector has been
growing constantly. According to
the Financial Stability Report –
December 2018 released by the
Reserve Bank of India (RBI), the
ratio of the textile sector came down
to 18.7 per cent in September 2018
from 23.7 per cent in September
2017.
The quick estimates data shows
that the exports of textiles and
clothing stood at Rs. 18,965 crore
in November 2018, compared
to Rs. 16,707 crore in November
2017, posting a double-digit growth
of 14 per cent.
This was confirmed by
Confederation of Indian Textile
Industry (CITI) on 8 January
2019. CITI further added that during
the same period, apparel exports
surged at an impressive rate of
21 per cent.
“I am delighted to see the positive
Index of Industrial Production (IIP)
data,” stated Sanjay Jain, Chairman,
CITI. It is imperative to note that
the IIP production data for apparels
and textiles also saw a robust Y-o-Y
growth during October 2018, as
against October 2017.
Similarly, textiles and apparel
recorded an increase of
6.2 per cent and 28 per cent,
respectively, during October 2018.
Jain also said that the positive
boost in the entire textile value
chain has been the result of
pragmatic approach shown by the
Union Finance and Commerce
Ministries. The Centre’s support
extended to the industry
includes disbursement of
Rs. 1,300 crore for the Samarth
Scheme, Rs. 6,000 crore for
apparel and made-ups package,
along with other state incentives.
Lack of skilled labour, raw materials
continues to affect Laos garment sector
The garment sector in Laos
continues facing the crisis of
skilled labour and domestic raw
materials. This was stated by
Xaybandith Rasphone, President,
Association of the Lao Garment
Industry while recently addressing
the 8th General Assembly.
apparel exports. Reportedly, the
Association is putting all efforts
by closely cooperating with
important Government agencies
and departments and also joining
hands with local garment business
He further added that owing
to steep increase in costs,
manufacturers have very little
capacity to bargain the buying
prices.
Lack of skilled labour has been
a perennial concern for the Laos
garment and textile industry
leading to massive reduction of
52 Apparel Online Bangladesh | FEBRUARY 2019 | www.apparelresources.com
heads to promote the garment
industry of Laos.
According to the Association,
besides lack of domestic raw
materials, high transportation
costs have also been big
detriments to the growth of the
apparel industry in Laos.
Notably, the country till date
does not have any direct sea
routes, which too has impacted
the growth of the garment
industry.
Laos majorly exports garments
to the European Union, Japan,
the United States and Canada.