New Delhi: Textiles Minister Dayanidhi Maran
today asked the domestic apparel industry to target exporting
USD 25 billion worth garments by 2012, up from USD 22 billion
recorded in the last financial year.
"The apparel export industry provides employment to 2.5
million workers directly and three million indirectly, earns
foreign exchange of Rs 50,000 crore annually and the need of
the hour is to raise the level of exports to USD 25 billion by
the year 2012," Maran said.
With the system in place to propel such exports, Maran
even voiced for a USD 90-100 billion exports in the segment in
the next 25 years.
While giving away the Apparel Exports Awards and Life
Time Achievement Awards organised by Apparel Export Promotion
Council, the Minister said such exports contribute to 13.5 per
cent to the country's merchandise exports.
"Our presence in international textiles trade is
minimal," he added.
The prime reason for our low share in international trade
is the pre-dominance of low-value items in the export basket.
"We have to exploit the opportunities offered by the free
market economy, while weaknesses hindering our growth have to
be eliminated or their impact minimised through well defined
initiatives to emerge as a strong international cost and
quality competitive textiles economy, " Maran said.
PTI
First Published: Wednesday, December 02, 2009, 23:57