Govt sets textile export target for 2010-11 at $24.4 billion

01 Dec '10

2 min read

Minister of Textiles – Dayanidhi Maran, said that in view of the sharp rise in textile exports during the past few months, the Indian Government had recently set the export target for textiles and clothing products for the current financial year at $24.4 billion, which is nine percent above the last fiscal year's target of $22.41 billion.

The Minister revealed this at a function in New Delhi, after he gave away the Shilp Guru Awards and National Awards to expert craft-persons and weavers.

Textile and clothing exports grew by 11.5 percent to $7.57 billion during the initial four months of the current fiscal, as against the $6.79 billion worth export during the corresponding period of last year.

While speaking on the handloom and handicraft industry's contribution to the nation's economic development, he said that the sector possesses massive potential to provide productive employment to several craftsmen and also to bring in valuable foreign currency to the country by means of exports. Both the sectors jointly employ around 12 million workers, and bring in foreign exchange of over Rs 100 billion into the country's economy, each year.

Textiles accounted for about 13 percent of the country's overall exports for 2009-10, and had been valued at $176.5 billion.

Fibre2fashion News Desk-India

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