Perfect Sourcing - April 2015

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The government has set the goalpost of $900 billion by 2019-20 from the current
level of $465.9 billion in 2013-14. The industry however feels that in order to touch the targets the support and encouragement that was expected out of the new textile policy has not been received. According to the industry the new policy has several loopholes that would instead of encouraging will disappoint exports of both textile and garments of India. Contrary to this the Govt feels that the decisions taken in the new FTP are apt and well defined as per the need of industry. According to the Govt they are working as per the WTO rules which says that any sector which has already reached the international trading threshold cannot be supported.
Whatever be the reasons but the fact of the matter is that it the recent FTP has
nothing great to offer and has actually not fulfilled the expectations of the industry.
Many feels that the policy definitely is going to impact the textile and apparel business in the long run but as of now it does not offer any respite to the industry from increasing competition and shrinking profit margins.
Team Perfect Sourcing spoke to a lot of exporters regarding this and most of them
came up with feedbacks that this is not what they had expected from a positive Govt
who has been pushing on schemes like Make in India.