INDIA: India expects Textile and Apparel Exports to reach US$24 billion in 2010-11.
India's government anticipated textile and apparel exports overseas may reach US$24 billion in 2010-11.
Egytex News Desk
Source: adsaleata.com
"In 2009-10, our textiles exports are estimated at US$20 billion due to the global economic crisis. We expect exports to be US$24 billion for the current fiscal," said the Textile Ministry of India.
However, helping hand from the government is needed in order to meet the target, according to A Sakthivel, President of the Federation of Indian Export Organisations (FIEO). He cited the rising costs of fabrics as a risk and urged the authorities to continue the regulation on cotton and cotton yarn exports. The government has brought cotton exports under the restricted category, with overseas shipments subject to licensing.
The US and European markets account for 30-35% of textile exports from India, and Indian textile and apparel exporters are also exploring new markets like Africa, Latin America and Oceania, said D K Nair, Secretary General of the Confederation of Indian Textile Industry (CITI).
Source: adsaleata.com
From the Egytex news archive, first published on 26 August 2010. Figures and names are as reported at the time.
