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International pressure compels textiles to focus on quality

03
Mar '07
Although expansion process of production capacity will be decelerated in 2007, upgradation of existing machinery and improvement of products will be continued.

This move is done to reduce pressure in international markets over textile products flooding the global platforms.

Even though value of Yuan is appreciated, a hike in exports will be witnessed along with reduction of rebates.

Innovation is expected to play vital role in the enhancement of exports and to establish profitable brands.

Last year, textile industry saw increasing friction over exports because of quotas imposed to curb influx of cheap products by Europe and US.

According to sources, textile exports stood at US $4 billion in January, a surge of 11.6 percent on year-on-year basis.

Last year, output of the industry reached $329 billion and combined profit of 11.62 billion.

Experts anticipate revenue generated by industry to achieve a 20 percent hike this year.


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