Home / Knowledge / News / Apparel/Garments / Union Textile Minister eyes $25 bn apparel exports by 2012
Union Textile Minister eyes $25 bn apparel exports by 2012
03
Dec '09
The apparel export industry provides employment to 2.5 million workers directly, and three million indirectly, earns foreign exchange of Rs.50,000 crore annually and the need of the hour is to raise the level of exports to US$ 25 Billion by the year 2012, said Thiru Dayanidhi Maran, Union Textile Minister while giving away the apparel exports awards and life time achievement awards.

The Textiles Minister said that approximately half of our textiles production is exported and textiles exports contribute 13.5% to country's merchandise exports. Still our presence in international textiles trade is minimal. The prime reason for our low share in international trade is the pre dominance of low value items in our export baskets and our insignificant presence in man-made textiles which predominate in textiles trades with a 70% share.

We have to work on our strength and convert them into competitive edge to exploit the opportunities offered by the free market economy, while weaknesses hindering our growth have to be eliminated or their impact minimized through a well defined initiatives, whether they may fiscal, technology driven or policy or market interventions to emerge as a strong international cost and quality competitive textiles economy, said Thiru. Maran.

The Textiles Minister said that Indian textiles and apparel exports, which are currently US$ 22 billion, are expected to register four folds increase to touch US$ 90-100 billion in the next twenty five years. Approximately 60% of Indian exports of textiles and over 70% of clothing are to USA and EU 27 markets, and there is an urgent need to broaden product mix and explore new markets, while maintaining and increasing Indian textiles and clothing(T&C) share in core markets through product innovation and diversification, said Thiru. Maran.

To diversify the T&C exports and reduce dependence on USA and EU 27, the Government is promoting exports to Japan, South East Asia and Australia under its 'Look East Policy', said the Minister.

The Minister said that we are also concentrating on the US and European Union, our traditional markets. The US textiles and clothing market will come out of recession soon and my recent visit there has immensely helped exporters to grab a large chunk of market, said Thiru. Maran. The Minister hoped that if sustained efforts are made by the industry, the country can capture additional US$ 1.5 billion textile and clothing export in US market, which will also help to generate additional employment opportunities.

The Minister said that recognizing the importance of foreign investment in textiles sector, he had led a Industry delegation to Tokyo, Las Vegas, Zurich, Milan and Istanbul and invited the major international player to collaborate with Indian textiles Industry in manufacture of fabric and garmenting, setting up of Green Field Units in textiles machinery, manmade fibre and yarn and create brand equity with Indian Apparel Company. The response has been overwhelming and we expects to get positive results very soon, informed Thiru. Maran.

Click here for more details.

Minister of State for Textiles


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Tim Savage from Pexels

Textiles | On 19th Jun 2018

Da Lat begins construction of $50mn wool yarn factory

Da Lat Worsted Spinning Limited Company has begun construction of a...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search