Record manmade fibre textile exports
Exports of Indian manmade fibre textiles reached an all-time high of Rs126.2 billion ($2.7 billion) in the 2007-08 period, a rise of more than 16% compared with the previous financial year.
According to chairman of the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), Sanjeev Saran, the growth is particularly remarkable because during this time there has been a sharp appreciation of the rupee, spiralling oil prices and raw material costs, high interest rates and general economic slowdown.
Exports were shipped to 163 countries during the year. Countries in the Middle East and the Gulf remained the leading export destination with a share of 29% followed by EU with a share of 20%.
Exports for the April to July period totalled Rs46.1 billion, up 35% compared with exports during the corresponding period in 2007.
