Although rupee appreciation has left a negative imprint on India's textile development, decline in exports are improbable to have a lasting effect especially since the Government has planned strategies (11 Five Year Plan, 2007-12) to boost growth by 16 percent to reach US $115 billion.
While addressing at the 2nd International Conference on November 30, Mr A K Singh, Textile Secretary said, “We expect the textile industry growth will accelerate to 16 percent in value terms and the market size of this industry will increase from the present US $52 billion to $115 billion during the 11th Five Year Plan."
Textile Secretary also stated that the Government is on its way to work out measures like TUF scheme to cater technology upgradation, Technology Mission on Cotton (TMC) to better productivity and Scheme for Integrated Textile Parks (SITP) for preventing blockage in infrastructure as well as to speed up growth of the industry.
On issue of Indian exports failing to reach the target of $25 billion this year with a drop of $7 billion, Mr Singh said “I can assure you that the Government will bring out some more policy initiatives shortly. The aim is to continue to provide conducive policy environment which will enhance the productivity through the upgradation of technology and attain and sustain in the manufacturing and exports," he said. "With strengthening rupee, the industry will have to adjust costs and bring more competitiveness.”
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
