India to seek new markets for textile exports
India will be exploring new markets for textiles exports in East Europe, Latin America, New Zealand and Japan, Textiles Secretary Rita Menon has announced.
“We are focussing across destinations like East Europe, Latin America, countries in Middle East, Australia, New Zealand and of course we are engaging in South Asia,” she told local media.
As per the estimates of the Commerce Ministry, the textiles exports aggregated to $21 billion, increasing by 15% in 2010-11.
According to the strategy paper of the Commerce Ministry, the projected textiles exports will be $42 billion in 2013-14.
On the issue of raw material shortages, the Textiles Secretary said that the government would not revisit the ceiling of cotton exports for the 2010-11 season.
Ms Menon said that the domestic textiles industry needs raw material security. “The whole question of raw material security is engaging our attention,” she said.
As for the next season (2011-12), Ms Menon said the crop sowing has not been completed yet and it is too early to make any projections.
