India has been witnessing a continuous drop in its exports to the world in the recent past. Therefore manufacturers have now started exploring the domestic market more to maintain profit margins

The industry is battling against the overseas competitors as well due to the restrictions on exports imposed by the Government. Countries like, Vietnam, Cambodia, and Bangladesh have a simple gateway to export, and they don’t have to pay any duty on the products they send to other countries which with FTAs in place, which is not the case for Indian textile companies.

Introduction of GST (Goods and Services Tax) has reduced the raw material cost which is allowing them to provide benefit to the end-customers. In 2017, the Government reduced the GST on man-made yarns from 18 per cent to 12 per cent, notably.