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Export targets may be reviewed

06/05/2008
The combination of Rupee appreciation and a slowdown in the US economy may encourage the Indian textile ministry to reconsider its existing export target of $50 billion by 2010-2011.

Textile Minister, Shankarsinh Vaghela, said: "We have set a target of $50 billion exports by 2010-2011. We are doing everything possible to achieve it. However, we may review it, if the need arises to do so.

"Strengthening of the currency is good for the country's economy but on the flip side it harms the exporters. There was a slowdown in the exports for some months. However, now things are looking up, and exports are back on track."

He added that Indian textile and clothing exports exceeded China's exports for the sector in the first two months of the year. China's exports fell 2.5% in the first two months, while India’s exports grew 8.5%. If this continues, India could overtake China as the world's largest textile exporter.



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