Home / Knowledge / News / Textiles / Textile sector to exceed growth target for this year

Textile sector to exceed growth target for this year

04
Feb '11
Backed by the stabilization in the domestic markets and expansion into new markets, the textile industry of Mauritius which sources the leading European chains is looking forward to achieve a growth rate of two percent this year.

The industry which constitutes 6.5 percent of the nation's gross domestic production and contributes 11 percent of the overall employment in the country, registered a meagre growth of 0.7 percent last year, all because of the global economic slump.

As the conventional domestic markets are stabilizing now after the slump and with expansion in the newer markets, the sector is expected to exceed the growth target of two percent set by the government for the current year. Also, the political instability and unrest prevailing in countries like Egypt and Tunisia is going to benefit Mauritius as the importers would be hunting for alternative sources for imports.

The Asian countries are now considering expansion in the markets other than those in the euro zone, so as to safeguard themselves from the disturbances in other parts of the world. However, the conditions are not as worse for the textile sector as they were during last year, but then there are chances of further increase in the prices of cotton and interest rates which may weaken the competitiveness of the sector.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Jul 2021

Vietnam opens new rail freight link to Belgium on China-Europe line

Vietnam Railways (VNR) has added a new rail freight link from Vietnam ...

Pic: Shutterstock

Textiles | On 26th Jul 2021

UK launches consultation on scheme for trade with developing nations

The United Kingdom recently launched a consultation on new trading...

Pic: Shutterstock

Textiles | On 26th Jul 2021

Prime Content| Rising demand to positively impact Australian wool exports: TexPro

Australian wool exports are expected to grow in the current season...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Ritu Oberoi,

Ritu Oberoi

Mumbai-based Forsarees is a socially driven business enterprise, working...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search