Delhi NCR apparel exports industry slows down
Published in
1 min readMar 18, 2018
First a snapshot of garment industry:
- INR 1,50,000 crore industry.
- 2nd largest employer after agriculture.
- 3 big clusters; Delhi NCR, Tirupur and Mumbai
- Report by Asian Development Bank
- Top brands; Triburg, Fabindia, Indo Rama, TCNS Clothing ( Source)
What’s causing the slow down?
Growth slowed down to 6% from a high of 25% in 2016.
- Not upgrading the manufacturing.
- FTAs of competing nations with destination markets.
- GST caused delay in credit refunds and less incentives.
What’s the way out?
PMO has stepped in to resolve the issues.
- Extend the date of exemption.
- Less cess on imports.
- Nominal GST of .1%.