Following the FTA agreement signed with Japan there are hopes that exports from the textile and clothing sector could cross US $1 billion in the current year, which is about 18-20 percent higher than the value of shipments in the previous year.
Despite a sharp fall in the export volume to major markets such as the US and the EU over the past ten months, exports to some Asian countries have kept increasing, such as Japan up by 14 percent.
The overall export situation in the current year is also not as bad as those of its competitor countries like India and China. Exports from the sector have touched $7.5 billion in the first 10 months of 2009, just 1 percent below that of last year.
Fibre2fashion News Desk - India
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