India's apparel exports declined in 2009-10
28 Jul 2010
India's exports of apparel during 2009-10 declined to Rs47,524.78 crore ($10.047 billion) from Rs47,112.77 crore ($10.383 billion) in the preceding financial year 2008-09.
The decline was mainly due to the general economic slowdown in the US and European markets, which led to lower demand for apparel and other textiles products, minister of state for textiles Panabaaka Lakshmi informed the Rajya Sabha in a written reply.
Textile exports from the country has, however, grown over 32 per cent in the first quarter of the current financial year (2010-11) and, the government said, it is contemplating steps to give a further boost to exports.
The commerce ministry has completed three days of consultations with organisations of exporters, including textile exporters, to find ways of achieving the revised overall export target of $216 billion for 2010-11 set by the prime ministers advisory council.
Meanwhile, Panabaaka Lakshmi said the expenditure and committed liabilities under the Technology Upgradation Fund Scheme for textiles till June 2010 have exceeded the 11th Plan allocation of Rs8,000 crore. She said the government had to suspended sanction of new projects under the scheme.
The government, she added, has received representations from textile associations to resume new sanctions. But, with limited availability of funds, the ministry will have to wait for some time till new resources are raised, she said.
