During his visit to Soviet republics of Kazakhstan, Uzbekistan and Moscow Union Textile in April 2007, Minister Shankersinh Vaghela was pleased with the response received.
He said that both countries were keen on improving Indian textile exports to Russia and have agreed to form teams to investigate and point out obstacles and also explore ways to overcome them.
Vaghela explained at a press meet, "Two-thirds of our US $20 billion textiles and ready made garments exports fall on the US and EU and have reached a saturation point and we have decided to focus on promoting exports to Russia and Japan, with their large markets."
Statistics show that in 2005-2006, India exported $60 million worth of textiles to Russia, registering a sharp decline against exports of $112 million in the previous financial year.
Minister said that the relations between the two nations were friendly and that both should work together to enhance trade.
Though many see China as the chief problem to promote textile exports to Russia, Vaghela said underdeveloped infrastructure and logistics were the major obstructions.
Further, talking about China, he said, “We are exporting cotton to China and importing textile machinery from them. Our people are investing in that country."
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
