India revises textiles export targets 9pc upward
Friday, 26 November 2010
NEW DELHI, Nov 25 (Commodity Online): India's textile export targets have been revised 9 per cent upwards to $24.4 bn this fiscal year considering the sharp increase in outward shipments of textiles in recent months.
Last fiscal, the total export target was $22.41 billion, according to Dayanidhi Maran, India Minister for Textiles.
Distributing the Ship Guru Awards and National Awards to master craft-persons and master weavers in Delhi, Maran said that during April-July 2010 period, exports of textiles and clothing products, including handicrafts, increased by 11.5 per cent to $7.57 billion from the $6.79 billion in the same period last fiscal, as per official estimates.
About the contribution of the handicraft and handloom sectors to economic growth, he said these sectors have enormous potential to provide gainful employment to a large number of crafts-persons and earn valuable foreign exchange through exports.
Both the sectors together provide livelihood to 12 million people and generate foreign exchange worth more than Rs.10,000 crore for the country.
Maran said marketing is key to promoting handicraft and handloom items and the sectors need adequate marketing facilities. In the first seven months of the current fiscal, handicraft exports increased by 24 per cent to $1.07 billion from the $864 million in the corresponding period of 2009-0, mainly due to a rise in demand from the US market.
On the other hand, handloom exports during April-July were $116.76 million from the $71.65 million during the corresponding period of last year, denoting an increase of 63 per cent.
Last fiscal, the total export target was $22.41 billion, according to Dayanidhi Maran, India Minister for Textiles.
Distributing the Ship Guru Awards and National Awards to master craft-persons and master weavers in Delhi, Maran said that during April-July 2010 period, exports of textiles and clothing products, including handicrafts, increased by 11.5 per cent to $7.57 billion from the $6.79 billion in the same period last fiscal, as per official estimates.
About the contribution of the handicraft and handloom sectors to economic growth, he said these sectors have enormous potential to provide gainful employment to a large number of crafts-persons and earn valuable foreign exchange through exports.
Both the sectors together provide livelihood to 12 million people and generate foreign exchange worth more than Rs.10,000 crore for the country.
Maran said marketing is key to promoting handicraft and handloom items and the sectors need adequate marketing facilities. In the first seven months of the current fiscal, handicraft exports increased by 24 per cent to $1.07 billion from the $864 million in the corresponding period of 2009-0, mainly due to a rise in demand from the US market.
On the other hand, handloom exports during April-July were $116.76 million from the $71.65 million during the corresponding period of last year, denoting an increase of 63 per cent.