Sharp Rise in Import of Knitted Fabrics Puts Pressure on Domestic Textile Industries

Mumbai, 24 Oct (Commoditiescontrol): In a recent report released by The Confederation of Indian Textile Industry (CITI), alarming figures have emerged that shed light on the mounting pressures faced by India's domestic textile industry. The import of knitted fabrics saw an exponential rise, surging by 56% in the fiscal year 2023-24.

According to the data, daily imports catapulted from 568 metric tonnes (MT) to a staggering 887 metric tonnes.

Most notably, out of this daily import volume of 887 tonnes, a whopping 95% (equivalent to 842.65 tonnes) was cleared at a rate of just USD 1.5 per kilogram, which is approximate ₹ 125/kg when converted in INR/kg. Such competitive rates have raised concerns among domestic textile producers, as the influx of cheaper imports severely undercut local production, potentially leading to job losses and stunted growth in the sector.

IMPORT FORM CHINA TO INDIA (ALL PORTS )



(By Commoditiescontrol Bureau; +91-9820130172)