Newsline-International | July 2015
Textile exports fall short of target in FY15
Textile exports in 2014-15 registered a 3 per cent growth at $41.7 billion, against the targeted $45 billion. There was a significant uptick in the overseas sales of handicrafts (17 per cent), carpets (15 per cent), ready made garments (12 per cent), silk (13 per cent), and wool and woollen textiles (18 per cent).
The Textile Ministry has approached the Commerce Ministry to include garments in the interest subvention scheme to help it compete with Vietnam, Sri Lanka and Bangladesh. ?The question is how do remain competitive,? said Sanjay Kumar Panda, Secretary, Textiles Ministry.