labels: Economy - general
India's textile exports expected to grow 15 per cent in 2008-09 news
22 April 2008

Mumbai: The government expects textile exports from the country to grow 15 per cent during the current financial year 2008-09, even as exports fell short of the $25 billion target set last year, textile minister Shankersinh Vaghela said

The country exported textiles worth $20.5 billion in 2007-08 against the targeted $25 billion.

While the government has set no target for the current year, it expects a 15 per cent growth in exports in the current fiscal over the previous year, he said.

"Textile exports for 2007-08 registered a growth of 10 per cent over the previous year despite the sharp rise in value of rupee against the dollar," the minister said on the sidelines of a FICCI seminar on technical textiles.

Technical textiles are materials used primarily for their functional properties, like fire-retardant and in areas of defence, health, infrastructure and aerospace.
 
Earlier, speaking on the occasion, textile secretary A K Singh said the government is in the process of constituting an inter-ministerial committee comprising representatives of the ministries of transport, defence, health and family welfare, home affairs and environment to examine the feasibility of a regulatory framework for use of technical textiles.

"There is no regulatory framework in India for mandatory use of specific technical textile products particularly in areas of health and infrastructure. The regulations are mainly for safety and well-being in use of technical textiles and are implemented by the ministries," Singh said.

The government also proposes to set up four centres of excellence within the next six months to provide infrastructural support for technical textiles, he said.


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India's textile exports expected to grow 15 per cent in 2008-09