Textile exports set to cross $40 billion

Union Textiles Minister, K. S. Rao on Monday said India was aiming at textile exports of $60 billion in 2014-15 as it will seek to encash on the increased demand from the developed nations and its traditional partners in the international market.

“Next year (2014-15), the textiles exports target will be set at $60 billion, having seen the potential and concentrating on skill development in the country, focus on textile sector by the government and also the necessity of the advanced nations to depend entirely on Asia, especially China and India,’’ Mr. Rao told journalists here after the inauguration of Tex-Trend India 2014 at Pragati Maidan here.

“It is not a difficult proposition to increase textile exports to $60 billion by 2015 March. The government has set textiles exports target of $43 billion for the current fiscal,’’ he remarked. Tex-Trends India is one of Asia's largest textile shows covering Apparel, Fashion Jewellery and Accessories, Home Furnishing, Cotton textiles and Jute garments etc, to showcase the emerging textiles in India.

Apparel Exports Promotion Council chairman, Virender Uppal said the idea of holding Tex Trends with the Ministry of Textiles was to showcase and leverage our strengths and complements our efforts to create India's garment and textiles from fibre to fashion. At the same time, he pressed for 5 per cent duty credit scrip for the import of specialty fabrics not available in India on actual user basis and a separate chapter for exports in the banking sector for availability of easy credit to industry, to boost exports. The textile industry employs 80 million people directly and indirectly.

Tex Trends 2014 is an initiative by the Ministry of Textiles, with financial assistance under the Market Access Initiative (MAI) of Ministry of Commerce and Industry.

This article is closed for comments.
Please Email the Editor

Printable version | Apr 14, 2021 8:15:34 PM |

Next Story