In the current financial year, as of now the contribution of textile exports in overall exports of the country has shriveled to 55 percent as against that of 60 percent noted during corresponding period in previous year.
During initial seven months of the prevailing financial year, the comprehensive export volume remained static and the decreasing contribution of textile goods in exports has been negatively impacting the export sector.
Total exports for the period from July –January 2009-10 were recorded at $10.870 billion as against exports of $10.820 billion noted during the same period in previous year. Revenue from textile exports for same period summed up to $5.981 billion as against $5.849 billion during corresponding period last year.
Textile exporters stated that, static export of textile goods is an issue of major concern and whatever is being exported in this class mainly encompasses raw cotton, cotton yarn and discounted textile goods.
According to them, there is immense pressure on value-added sector on account of in-house and transnational issues that have been rendering domestic products unviable in overseas markets when faced with foreign competitors.
An exporter of value-added textile opined that, amplifying export of value-added sector in current scenario would be an ambitious thought, when there is scarcity of raw material to keep the industrial units in the sector, functional.
He remarked that it is not possible to revitalize the sector without development of the value-added sector, as it is this development which would fetch higher prices of cotton rather than raw cotton and cotton yarn, which presently are being exported in bulk.
Focus on value-added chain of textile could only aid in attaining noteworthy contribution of textile exports in total exports and also if restorative measures are initialized, then it may not be difficult even to attain a target of 60 percent, he added.
Fibre2fashion News Desk - India
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