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India targets $33bn from textile exports in 2012-13

13
Dec '11
The Indian Government has fixed the textiles export target for fiscal year 2012-13 at US$ 33 billion, up from current fiscal's target of US$ 28 billion, in spite of terming the current global economic uncertainty as a matter of “serious concern”.

The textiles sector has suffered a slump owing to several factors including the adverse global economic conditions, Union Textiles Minister Anand Sharma informed the Lok Sabha, and added the Government has already introduced steps to safeguard the industry.

He informed that the Government has formed six high-level inter-ministerial committees having various ministerial and departmental representatives as well as representatives from the Planning Commission as its members. These committees, he said, are meant to review and assess the performance of the textiles industry.

Mr. Sharma stated that no case related to dumping of Chinese raw silk in India have been registered with the Government this year. He added that China has been hit by natural calamities and silk production there has witnessed a fall this year.

He, however, stated that safeguard measures like protective duties help the Indian Government to curb dumping of foreign goods in domestic markets.

The Minister stated that raw silk production in India has reduced in recent times and Chinese silk is proving to be of great help for the Indian weavers.

He informed that during October this year, the Government approved setting up of 21 new integrated textile parks with an outlay of Rs. 21 billion, so as to develop world-class infrastructure for the domestic textile industry.

While responding to a query on handloom census, the Minister said that the mechanized sector and low-cost imported fabrics are extending tough competition to the industry.

He stated that the credit flow for the domestic handloom industry is epitomized by high costs, low disbursement levels and blockage of credit lines owing to a “debt over-hang''.

The Minister informed that the Cabinet Committee on Economic Affairs has sanctioned a loan waiver package worth Rs. 38.84 billion for the handloom industry. He added that the package will help in providing credit to handloom weavers and their societies, which will help around 300,000 weavers.

Fibre2fashion News Desk - India


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