If we look at the recent past, rupee has appreciated at a pace which has not given us enough time to adjust our pricing. It has appreciated 15% in last 14 months. I am happy to say that in spite of appreciating rupee, the members of the council have achieved a growth of 15.8% and the exports of synthetic textiles, fabrics, yarn, made-ups have crossed Rs.11864 crores in the year 06-07 compared to exports of 2005-06.
It is a laudable achievement on the part of members of the council.Friends, during my tenure in SRTEPC, I have always emphasized on the need for greater focus on marketing and we took business delegations to untapped and un-explored markets.
As President, FIEO, I also have tried to take up the issues at every forum through which some relief is extended to exporters. Friends, I had the privilege of joining the Prime Minister's Delegation to South Africa to attend IBSA Summit and I am hopeful that our exporters would get opportunities in new emerging markets.
Before closing, I would like to advise my friends that we have to devise new strategies to retain our competitiveness keeping in view the rupee appreciation which is making our trading conditions challenging. There is a need for more value addition in the product to charge a premium price, especially for small business houses.
Exporters may also consider diversification of market and invoice in currencies other than US$, for which I, understand council is making all out efforts to achieve the target. I wish you all good luck in this endeavour and assure of my full support whenever required.
I once again congratulate the award winners, and thank our Textile Minister whose august presence has enhanced the morale of exporters present here. I also congratulate Council's Chairman for organizing such an excellent function.