IndRa Forecasts Bright Future For Textile Industry
Forecasting stable input prices, healthy capacity utilisation, and consistent domestic demand, India Rating and Research is hopeful about cotton textile industry's performance in the coming financial year.
Fiscal incentives and implementation of Goods and Services Tax will boost the textile industry's export competitiveness and further, United States exit from the Trans-Pacific Partnership trade relations will also increase India's opportunities in the global market space.
The rating agency expects cotton cultivation to increase by 10-15% to about 120 million hectares in FY18, consequently raising its production. India Rating expects an enhancement in the credit profiles of most textile goods including raw cotton players.
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