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Home / Knowledge / News / Textiles / Export results unlikely to meet Great Expectations

Export results unlikely to meet Great Expectations

17
Apr '08

Government has high hopes about exports reaching US $200 billion in 2008-09. However, exporters who are the real players in the game have suggested a revision of policies if these incredible figures are to be achieved.

Infact, even the present target of $160 billion may be missed with figures lingering around $155 billion. Constrained by rupee appreciation, slowdown of US economy, sky-high oil prices and withdrawal of GSP benefits by number of countries, exporters find it reasonably unlikely to stand up to Governmental expectations.

To add to the already unbeatable challenges Government has been discouraging exports of certain goods by withdrawing DEPB benefits for over 50 commodities while completely banning exports of agro and some other significant products.

In view of these straining circumstances, the Associated Chambers of Commerce and Industry (Assocham) termed the $200 billion export target as 'too ambitious to achieve'.

On this account, Fibre2fashion took the initiative to interview Dr D K Nair, Secretary General of the Confederation of Indian Textile Industries (CITI).

Dr Nair opined, “In the case of textile products, I expect 2007-08 to register a negative growth, compared to the previous year. The figures are not yet available from Directorate General of Commercial Intelligence and Statistics (DGCI&S). However, 2008-09 may end up marginally better, since Chinese exports are facing problems in some major markets with increasing supply side problems in the textiles and clothing industry.”

Further when asked about measures to be taken by the Government, Dr Nair added, “Return of state level duties to exporters and declaring a moratorium of one year for repayment of principal amounts against term loans are the immediate steps required from government for sustaining the growth of the T&C industry. Our requests to government on both these issues have received positive response both from Commerce and Finance Ministries. However, no concrete action has been taken so far!”

Fibre2fashion News Desk - India

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