Home / Knowledge / News / Association/Org / Indian govt urges textile exporters to expand market reach

Indian govt urges textile exporters to expand market reach

07
Jul '12
Ms. Kiran Dhingra
As India’s key textile export markets – the EU and the US – are experiencing slow economic growth, exporters in the country have been urged by the Textile Ministry to expand their reach, particularly to the eastern markets, to decrease their reliance on the two major markets.
 
Discussing the impact of eurozone crisis on India’s textile exports, Textiles Secretary Kiran Dhingra said she views the slump as an opportunity for Indian exporters to expand their market in the East as well as West Asia, as till now they have mainly been focusing on the EU and US markets.
 
Speaking on the sidelines of Texcon 2012 organised by Confederation of Indian Industry (CII) - Northern Region, the official said the exporters are expecting shipments to decelerate over the next two quarters, and to rebound thereafter.
 
Handicraft and carpet exports from India grew at an average year-on-year rate of 10 percent during April-May 2012, while apparel exports remained flat during the period.
 
Meanwhile, banking on the positive response of the textile exporters following announcement of sops in the annual supplement of the Foreign Trade Policy (FTP), the Ministry has hiked the textile export target for the current fiscal, from US$ 38 billion set earlier to US$ 40.5 billion.
 
To boost exports, the Government has extended the interest subsidy scheme for one more year, till end of current fiscal. Also, garment sector has been brought within the ambit of the scheme, which already covered segments like handlooms, carpets, handicrafts and SME sector.
 
The market-linked focus product scheme in respect of apparel exports headed towards the EU and US has also been extended till March 31, 2013.
 
TT Limited Managing Director Sanjay Jain raised the issue of labour crisis and urged the Government to extend support for the sector, as many skilled workers engaged in the sector have shifted their hometowns owing to implementation of Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA).
 
He assured that if the Government extends support, the industry would also undertake to ensure 365 days of employment, even at its own cost.
 

Fibre2fashion News Desk - India


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Fabio Grandis,

Fabio Grandis

Italian company Grandis SRL has been operating in the textile industry for ...

Deepak Mundra,

Deepak Mundra

Surat-based Madhusudan Group is a vertically integrated textile...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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


October 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search