India's 2012-13 textile exports below target: Minister

30 Apr '13

1 min read

During the first eleven months of fiscal year 2012-13, India exported textiles worth US$ 28.4 billion, much below the target of US$ 39.6 billion set for the entire fiscal.

In a written reply to the Lok Sabha, the lower house of Indian Parliament, Textiles Minister Anand Sharma said India’s textile exports grew from US$ 22.4 billion in 2009-10 to US$ 27.7 billion in 2010-11 and US$ 33.31 billion in 2011-12.

Textile exports for April-February 2012-13 stands at US$ 28.4 billion, the Minister informed.

Mr. Sharma said India’s share in world textiles exports was 3.87 percent in 2009, which grew to 3.98 percent and 4.10 percent in 2010 and 2011, respectively.

The Minister said the Government has explored new markets for textiles in Latin America, Southeast Asia, Africa and the Middle-East, in addition to Japan, Israel and Australia, in view of the recent slowdown in the EU and the US economies.

In order to boost textile exports, the Indian Government has extended the two percent interest subvention scheme on handlooms, carpets and garments up to March 2014. It has also extended additional duty credit of two percent of freight on board (FOB) value on export of certain knitwear for 2013-14.

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