Textile exports will exceed $40 billion this year, says textile secretary
New Delhi:
India’s textile exports are expected to exceed $40 billion during the current fiscal year, textile secretary UB Singh said on Wednesday.
However, he said that if the maximum increase in exports came from cotton yarn shipments, “I wouldn’t feel so comfortable”.
“Not only would we meet the $40 billion export target, (but) we should cross the $40 billion mark in exports this year,” Singh said.
He asked the industry to look at exports, whether the growth is due to volumes or price increases.
“I would be happy if it comes through larger volumes,” he said at a meeting.
The secretary said some players in the clothing industry have proposed banning the export of cotton yarn or raw cotton. However, the government has deliberately not taken these decisions because it does not believe in interference in the functioning of the market.
At Mega Integrated Textile Region and Apparel (PM MITRA) parks, he expressed the hope that 12 states would step forward.
During the post, Minister of State for Textiles Darshana Vikram Jardosh also said the government had taken steps to promote the growth of manufactured or man-made fibres.
