Textile sector growth rate at 18.2%, says Ministry of Textile
03 Jun '05
1 min read
Ministry of textiles stated that a growth of 18.2 percent in has been recorded compared to the growth of 3.2 percent in the last fiscal year.
The spun yarn sector growth climb by 5.5 percent, the hosiery segment grew by 14.7 per cent and clothing sector rise by 7.1 per cent.
It good omen is for the Indian economy that textile sector is growing rapidly as it accounts 20 per cent of total export earnings and 4 per cent to GDP, not only this but also because more or less one out of every six households in the country is dependent on textile sector.
The government has aimed to attain target of 20 percent growth in textiles exports to $ 50bn by 2010. As per commerce ministry reports, textile exports in 2004-05 declined by 3.72 percent to Rs 53,996cr from Rs 56,082cr in 2003-04, but the industry has posted modest growth in March and April.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
