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EPB sets export target at $18.7 bn this fiscal
17
Aug '10
Despite, failing to have attained the targetted export earnings during the last fiscal, Export Promotion Bureau (EPB) has set $18.7 billion as a target for exports during the current financial year, which would be a 15 percent rise over last year's actual revenue.

More over, the export earnings for 2009-10 fiscal was $16.2 billion against a set target of $17.6 billion, which depicted a 4 percent rise over the 2008-09 fiscal but fell short by almost 8 percent of the estimated target.

World economic downturn, labour unrest in the RMG sector and the deteriorating energy and power crisis are the primary reasons behind, especially knitwear and woven apparels, missing to attain their target in the last fiscal.

As per an EPB official, a 10 percent rise in earnings for the highest export earning RMG segment (putting together knitwear and woven apparels) has been put forth, despite the fact that the sector failed to attain its target in 2009-10 fiscal.

Target set for knitwear is $7.3 billion, which is a 13 percent rise from last year's performance, which was $6.4 billion. Similarly, target set for woven apparels has been set at $6.7 billion, which is about $700 million over last year's earnings.

Export revenue target for home furnishings has been set at $593 million as the segment had earned close to $540 million during the last financial year.

More over, with splendid performance during the last fiscal and with also the recent innovations in R&D, EPB now wants jute and products made from jute to rope in more than $1 billion for the first time ever this year, which implies a huge 38 percent rise over last year's figure of $736 million.

Export target for raw jute has been set at $255 million, for jute yarn and twine it has been set at $577 million, for jute carpet it is about $10 million and for jute and synthetic ropes it is set at $20 million.

Fibre2Fashion News Desk - India

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