India

The recent decline in value of the Indian rupee may be positive for garment exports, according to several industry insiders who also warn that these benefits may be short lived. In an interview with Fibre2Fashion, the head of the Federation of Indian Export Organizations says that the value of the rupee usually takes a slight dip at the end of the year and coupled with a rise in value of the U.S. dollar, Indian garment exports could be in for a brief boost. Analysts also warn that declining currency values in other major export markets could negatively affect global sales. (Fibre2Fashion)
 
The Tirupur Exporters’ Association (TEA) is pushing for India’s government to provide research and development centers, incubation centers, and design studios for high-performing textile clusters in the country. TEA officials say the move could help the textile industry explore new niche segments that could help them grow overall sales. The group is also pushing the government to implement the new Factories Bill that was passed this year to help facilities meet compliance demands. (Fibre2Fashion)
 
India’s Power Ministry is considering a proposal to offer more competitive energy rates to the country’s powerloom industry in an effort to boost competitiveness. The proposal was presented to Textiles Minister Smriti Irani by Power Minister Piyush Goyal in a recent meeting between the two. The proposal will now be presented to several states for consideration and input. (Fibre2Fashion)