Apparel exports up 26% during Apr-Oct – Textile Minister

Speaking on the occasion Dr. Rao said, “The apparel sector has earned Rs. 49,200 crores forex in April-October, 2013, showing a growth of 26% over the same period during year 2012.

"Income in both the currencies i.e. INR and US$ are buoyant. In dollar terms, the growth is 15.5% (US$ 8.2 billion) during the same period. I am confident that we are on the road to recovery.

"Signs of its revival are visible in USA & EU, which guided my instinct to revise the apparel export target to USD 17 Billion during the current Financial Year. Let’s keep a high target in next year. I am sure the industry will compensate its deficit and shall try to reach US $ 60 billion in the next 3 years.”

During his address, Union Textiles Minister informed that, “During the 12th Five Year Plan, I had emphasized for ensuring raw material safety through National Fibre Policy, Technology Mission on cotton, towards modernization, skill & financial support, etc.

"I also laid stress for the continuation of TUFS in 12th Plan, Integrated Textile Parks, Integrated Skill Development Scheme, DISHA and even Knitwear Technology Mission under product development have been finalized as Government Policy. The Integrated Skill Development Scheme includes leveraging on the existing strong institutions and training experience within the Ministry and ensuring private sector participation through a PPP model.”

Underlining the key objectives of 12th five Year Plan, Shri Rao said, achieving annual average growth rate of 11.5% in volume terms in cloth production, Increase domestic value addition and technological depth, training of 35 lakh persons, additional employment to 15.81 million workers by 2016-17, etc are the key priorities.

Minister also underlined need to need to innovate and explore new non-traditional markets like Israel, Russia, Brazil and Japan etc. The new markets should be perceived actually as a new growth opportunity.

Applauding the efforts made by awardees for boosting exports, for achieving excellence in their performance Dr. Rao attributes this achievement is the combined efforts of entrepreneurs, support of valued buyers, hard work put in by the workers coupled with cohesive policies framed by Government.

Chairman AEPC, Dr. A Sakthivel, highlighted the role the apparel industry in lieu of 43.20 billion US $ target for a strong textile value chain and exports growth. The apparel export industry has the responsibility of contributing around 40% this. In view of the conducive environment and signs of revival in major US & EU markets Chairman added that AEPC shall do it but to achieve the revised target.