The Cotton Textiles Export Promotion Council has expressed concern over the drop in cotton textile exports in 2014-2015 compared to the previous year.
R.K. Dalmia, Chairman of the council, has said in a press release that the over all exports of textiles and clothing from the country touched $41.4 billion last financial year against the target of $45 billion. Export of raw cotton registered 2.2 per cent negative growth and export of cotton textiles (including raw cotton) declined by 14.7 per cent drop.
The 15 per cent growth envisaged this year, can be achieved with ‘timely support’ from the Government. It should include cotton textiles under three per cent interest subvention scheme, release funds for the Technology Upgradation Fund Scheme (TUFS), and recalibrate the product under the Merchandise Exports from India Scheme. The delay in getting duty drawback amount has further aggravated the situation for the exporters, he said.
