Textiles export at $28.4 bn in Apr-Feb, below FY'13 target
India's textiles exports were USD 28.4 billion during the April-February period, way below the target for 2012-13 fiscal that ended on March 31.
New Delhi: India's textiles exports were USD 28.4 billion during the April-February period, way below the target for 2012-13 fiscal that ended on March 31.
The government had set a target of USD 39.6 billion for the entire fiscal.
"The textiles exports increased from USD 22.4 billion during 2009-10 to USD 27.7 billion in 2010-11 and these exports were USD 33.31 billion in 2011-12. Export performance for the April-February 2012-13 stands at USD 28.4 billion," Textiles Minister Anand Sharma said in a written reply to the Lok Sabha.
On whether the government has explored new markets for exports in view of the recent slowdown in the US and the European nations, he said: "Yes, government has explored new markets for textiles exports in Japan, Australia, Israel, Latin America, Africa, South East Asia and Middle-East nations."
India's share in global textiles exports was 3.87 percent in 2009, 3.98 percent in 2010 and 4.10 percent in 2011, he said.
Further, Sharma said, the steps taken by the government to boost textile exports include extending 2 percent interest subvention scheme on handicrafts, handlooms, carpets and garments up to March 2014, additional duty credit of two percent of freight on board value on export of certain knitwear apparel for 2013-14.