Indian textile exporters facing payment defaults
Indian textile exporters are facing payment defaults and overseas buyers are demanding price reduction,parliament was informed today."The exporters to the US have been reporting about payment defaults,"Minister of State for Textiles E V K S Elangovan said "There are also instances where the overseas buyers have been…
Egytex News Desk
Egytex
He said the US, which is India&aposs single largest market for textiles and
clothing products, and many other major buyer countries have been facing
economic slowdown leading to adverse impact on New Delhi&aposs exports.
The
domestic industry sources also have been reporting production cuts and capacity
under utilisation, he said. Indian exporters have lost the competitive edge due to high domestic transaction
costs and incidences of multiple duties and taxes, he added.
From the Egytex news archive, first published on 19 February 2009. Figures and names are as reported at the time.
