India to focus on specific countries to increase exports globally

The ministry will follow a segmented approach to cater to the different needs of countries and has identified 13 potential markets where it will begin marketing activities to promote Indian products like handicrafts, jute, cotton, textiles and apparel. Textile exports have been diminishing since the implementation of the Goods and Services Tax (GST) which had significantly lowered import duties, which is causing great hardships to the textile industry.

Textile and apparel exports from the country have witnessed a slowdown in recent years due to subdued demand trends in the key importing countries that include the United States and European Union countries. Therefore, the Integrated Marketing Plan 2017-18 has been created by the ministry for textile to boost exports. India’s total textiles and apparel exports for the last financial year was $ 39.7 billion. The textile ministry has set a target of $45 billion exports from the country’s textile and garment sector for 2017-18 fiscal. The textile ministry’s Integrated Marketing Plan 2017-18 will be initiated through promotional activities such as B2B meetings, exhibitions and roadshows in countries like Germany, France, Italy, the US, China, Hong Kong, Turkey, Australia, Russia, the UAE, Brazil, Egypt and Chile, as per the requirements of Indian products in these markets. “There exists a huge potential for India to increase its market share in various markets by aligning the product with specific market. In line with this, the Marketing Plan has been prepared to synergise various ongoing marketing initiatives while adopting specific approaches for traditional, emerging and other important markets,” the ministry said in a statement. Apart from marketing activities the government is also working towards expediting the long pending India-EU free trade agreement. The textile industry has been long demanding for duty-free access of Indian textile and garment items to the EU due to competitive pressures from countries like Bangladesh, Vietnam and Pakistan.

Related Posts

Amazon union leader Smalls went from rapper to unlikely voice of protest

It was not until the Covid-19 pandemic that Smalls found an unlikely calling: uniting workers at a company that for decades had resisted unionizing, and re-writing a…

‘Ababis’ and ‘Star Wnrs’- Knockoffs thrive in China e-commerce

As China held its massive annual “Singles Day” online sales event on Sunday, shoppers could still find cheap imitations on Alibaba’s Taobao app despite the company’s efforts…

French consumer confidence hits highest level since Macron took office

The INSEE official statistics survey said its household confidence index rose to 106 from 104 in October, smashing economists’ expectations for a pull-back to 103 in a…

Havaianas is first customer for Hatch digital showroom software

Merel Werners, EMEIA Marketing Director at Havaianas said the process has been seamless and the company is planning to work with Hatch on further digital innovation.Hatch’s SVP Digital…

Hermes sued in antitrust class action over Birkin bag sales

Hermes is violating antitrust law by “tying” the sale of one item to the purchase of another, two California residents alleged in the proposed federal class-action lawsuit…

Great Depression-like U.S. job losses, unemployment rate expected in April

A report that is closely watched in any given month but especially so now with non-essential businesses in mandatory shutdowns nationwide to contain the coronavirus, the Labor…