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Chinese imports of textiles do not pose threat – Mr Elangovan
26 Feb '09
1 min read
The Minister of State for Textiles, Mr Elangovan has assured the stake holders in the Indian textile and garment industry in the country, that, China does not pose a threat to the homegrown manufacturing companies in India.
India imported textiles and clothing amounting to US $1.37 billion in fiscal 2007-08, compared to $1.14 billion in the previous fiscal. The minister said that since the quantum of textile and clothing was small, it cannot threaten the domestic companies.
He added by saying that, “No specific study has been conducted to assess the impact of imports of textiles and clothing from China since it is not so large”. A few trade associations have submitted a memorandum with regards to cheap imports creating job losses in the sector.
Mr Elangovan said, though exports from the sector have dipped by 16.5 percent in October 2008, the momentum had been maintained in the period April- September, which witnessed a growth of 5.25 percent, from that a year ago.
India imported textiles and clothing amounting to US $1.37 billion in fiscal 2007-08, compared to $1.14 billion in the previous fiscal. The minister said that since the quantum of textile and clothing was small, it cannot threaten the domestic companies.
He added by saying that, “No specific study has been conducted to assess the impact of imports of textiles and clothing from China since it is not so large”. A few trade associations have submitted a memorandum with regards to cheap imports creating job losses in the sector.
Mr Elangovan said, though exports from the sector have dipped by 16.5 percent in October 2008, the momentum had been maintained in the period April- September, which witnessed a growth of 5.25 percent, from that a year ago.
Fibre2fashion News Desk - India
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