Union Textile Minister eyes $25 bn apparel exports by 2012
The apparel export industry provides employment to 2.5 million workers directly, and three million indirectly, earns foreign exchange of Rs.50,000 crore annually and the need of the hour is to raise the level of exports to US$ 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
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.
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Minister of State for Textiles