India Textile Wants To Increase Domestic Multi Brand Purchase Share

　　 clothing The Export Promotion Council (AEPC) asked the Ministry of textiles to increase the proportion of domestic purchases of multi brand retail, from 30% to 50%.

The committee wrote to the Ministry of textiles last week, suggesting that the purchase ratio of the exporters should be increased by 20%.

For the sake of India. Multi brand Retail benefits, the India government stipulates that the domestic market purchase ratio is 30%. Small and medium-sized enterprises will take advantage of this advantage. In order to make full use of the advantages of domestic procurement, the committee recommends that the government authorize an increase of 20% in the proportion of domestic purchases from the existing clothing export companies.

Because of the current economic crisis in the euro area and the United States, garment exporters are facing a slowdown in growth. The euro zone and the United States are India's largest export markets.

In the current fiscal year, India's export target was set at US $40 billion 500 million. The industry is worried that they will not be able to achieve this goal, and exports will probably remain unchanged from last year.

Last fiscal year, textile Exports reached US $34 billion. In June, the export of clothing in India decreased by 10.5% to 1 billion 100 million US dollars, due to the sluggish export demand. According to the garment export promotion committee, it exported 1 billion 200 million US dollars in the same period last year.