New Delhi, July 02: India's textile exports have declined by 5.31 per cent, Textile Minister Dayanidhi Maran on Thursday said and assured that the government has initiated steps to mitigate the adverse impacts of slowdown in the sector.
"India's textile exports have marginally declined by 5.31 per cent during April-February 2008-09 over the corresponding period of previous financial year," Maran said in reply to a question in the Lok Sabha.
He assured the House that the government was constantly monitoring the situation and after analysing the impact of the stimulus packages, further appropriate action would be taken.
The manufacturing sector in India was facing the impact of the global economic slowdown, he said adding, the government is conscious of any possible job loss in the textile sector and has taken steps in the form of relief and concessions.
"These steps will mitigate the adverse impact of global economic slowdown on Indian textile industry. The government is constantly assessing the situation and will act positively whenever required," Maran said.
Bureau Report
First Published: Thursday, July 02, 2009, 16:32