India Textile export target at $ 50 billion

The Textiles Ministry plans to increase exports to $ 50 billion in the next one year, Union Minister for Textiles K. Sambasiva Rao said here on Thursday.

The country exported textiles worth $ 34 billion during the 2012-13 financial year.

Higher exports this year would help narrow the current account deficit. There is a worrying surplus of imports compared to exports, he said at a news conference on Thursday.

The State’s garment industry, a dominant exporter, had contributed precious foreign exchange earnings and created jobs for a large number of people, he said.

Mr. Rao, who took charge of the Ministry in June, said he had heard the problems of industry bodies in Coimbatore, Mumbai, Surat, Jaipur and Jalandhar, and met local industry representatives earlier in the day.

He also met Chief Minister Siddaramaiah and apprised him of the Ministry’s proposal to double the area under sericulture in five years and production in four years.

Technical textiles

During the interaction, Mr. Rao urged local entrepreneurs to take up manufacture of technical textiles, which is seen to have a big growth potential.

Mr. Rao, along with Textiles Commissioner A.B. Joshi, met representatives of textile industry associations, spinning mills, powerloom weavers, garment manufacturers, exporters associations and integrated textile parks.

He assured them the Ministry would take several steps to make India a dominant global player in the manufacture and export of textiles and clothing during the 12th Plan period. The steps include the fibre policy, the textile policy, last year’s Rs. 719-crore market intervention for cotton by the Cotton Corporation of India, besides continued financial support under the Technology Upgradation Fund Scheme, which would be notified soon. Creating one crore jobs was also part of the mission. The Ministry oversees textiles made from cotton, silk, jute and wool.

Addressing the associations’ problem of labour shortage, Mr. Rao said the State government would be consulted for providing training support to entrepreneurs. He said the Ministry would study the need for yarn banks and common facility centres for powerloom clusters.