India overtakes China in textile exports to American, European markets
India has overtaken China as exporter of textiles to the US and Europe markets due to the cap on Chinese textiles in those countries.
Egytex News Desk
Egytex
Textile Minister, Sankarsinh Vaghela has said the 10 per cent cap on Chinese textile exports, which will continue till 2008, has provided ample opportunity for India to establish itself in the export market. His ministry plans to create 25 textile parks in the country, and approval has already been given for nine.
In software and IT enabled services also, India achieved another big success. The country`s exports have increased by more than 36 per cent to 23 thousand million dollars during 2005-06.
India`s electronic hardware exports have grown by 10.3 per cent to 1,965 million dollars over the previous year.
Source: IRIS
From the Egytex news archive, first published on 11 June 2006. Figures and names are as reported at the time.
