Textile Exports - Govt eyes 15% growth in textile exports in 2008-09- Foreign Trade ...

The government is expecting a 15 per cent growth in textile exports in 2008-09, even as it fell short of achieving the 25 billion dollar export target set last year.

India's textile exports for 2007-08 stood at $20.5 billion, against the targeted $25 billion.

"Textile exports for 2007-08 registered a growth of 10 per cent over the previous year despite growth being impacted by the sharp rise in value of rupee against the dollar," Textile Minister Shankersinh Vaghela told reporters on the sidelines of a Ficci seminar on technical textiles.

While no target has been fixed for the current year, the government expects a 15 per cent growth in exports in the current fiscal over the previous year.

Earlier speaking at the occasion, Textile Secretary A K Singh said the government is in the process of constituting an inter-ministerial committee comprising representatives of the ministries of Road and Transport, Defence, Health and Family Welfare, Home Affairs and Environment to examine feasibility of a regulatory framework for use of technical textiles.

Manufactured for non-aesthetic purposes, technical textiles are materials used primarily for their functional properties, like fire-retardant, in areas of defence, health, infrastructure and aerospace.

"There is no regulatory framework in India for mandatory use of specific technical textile products particularly in areas of health and infrastructure. The regulations are mainly for safety and well-being in use of technical textiles and will be implemented by the Ministries," Singh said.

With a view to provide infrastructural support for technical textiles, the government also proposes to set up four Centres of Excellence within the next six months.

Courtesy: Economic Times Of India