Mumbai: The Indian textile industry
is estimated to grow over two-fold to USD 115-billion by 2012,
a senior government official said.
"The textile industry in the country is estimated to
reach USD 115-billion by 2012 from the present USD 50 billion,
Union Textile Commissioner, A B Joshi told.
The Textile Ministry is also pursuing Foreign Trade
Agreements with the US and Europe and almost 40 per cent of
total revenue is expected to come from these countries in the
next three-years, Joshi said.
The government is also looking at markets across Russia,
China, South-East Asia, Middle-East, Japan and Latin America
to promote India's textile exports, he said.
It is expected that India's share of textile exports
to the world would also increase from the current 4 per cent
to around 7 per cent during this period.
According to estimates that country's textile exports
have shot up from USD 19.14-billion in 2006-07 to USD 22.13-
billion in 2007-08, registering a growth of over 15 per cent.
The industry accounts for around 4 per cent of the
gross domestic product (GDP), 14 per cent of industrial
production and over 13 per cent of the country's total export
earnings.
Bureau Report
First Published: Tuesday, October 06, 2009, 22:09