Indian government to increase textile export tar - sportstextiles: Lea SportsTextiles

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Indian government to increase textile export target

13/12/2011
India’s federal minister for the textile industry, Anand Sharma, has called for a meeting with industry leaders after October figures showed a decline in industrial output of 5.1%, the lowest production figures in more than two years.

Speaking in the Lok Sabha, the lower house of the Indian parliament, Mr Sharma blamed rising interest rates, high raw materials prices and “uncertainties” in the global economy. He said his ministry was aware of how things were in the textile industry in India and would take steps to help companies improve their output.

In spite of the situation in the global economy, he said the government was setting an export target of $33 billion for next financial year (April 1, 2012–March 31, 2013), up from a target of $28 billion in the current financial year.

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