India's garment exports to register 15-18% growth in FY18

India's garment exports are expected to register a 15-18 per cent growth in FY 18 as against $17 billion registered last year, a senior government official said.

Textile Commissioner, Kavita Gupta, told PTI, "We have clocked 18% growth in garment exports since January 2017 and we hope that similar trend may continue for remaining period this year. Last year our garment exports stood at $17 billion."

To showcase business opportunity, Clothing Manufacturers Association of India (CMAI) has organised three-day national garment fair, the largest apparel trade show in Mumbai.

After inaugurating the 65th national garment fair, Gupta said, "Rebates on state levies have been introduced to encourage exports. There is an additional 10 per cent subsidy for the garment and made up segments, which means the home textile industry will effectively get 25 per cent capital investment subsidy on new machines they bring in, leading to efficiency and modernisation of the sector."

She said, "Subsidies have proved be very beneficial for the sector and led to increase in employment and attracted huge investments."

She added, "The textile industry needs to utilise the various schemes launched by the government for the benefit of customers."

The commissioner said, "The industry is looking at entering into CIS, Africa and Far East markets to increase garment exports, apart from our traditional markets of US and Europe."