Ministry of Textiles expects 25 per cent growth in exports
12 Jul 2005
Coimbatore: The ministry of textiles expects textile exports to post a 25 per cent growth this year and it pins its hopes on the upbeat mood being seen in the manufacturing sector, which is in the thick of modernising its production line.
Though the data from the director general of commercial intelligence and statistics (DGCIS) for textile exports up to May this year had revealed a 10 per cent decline overall, the figures from the US and European Union customs authorities on shipments from India are different, according to officials in the ministry of textiles.
While US imports from India up to April this year had revealed a 24 per cent rise, in the case of the EU, it was up 11 per cent. The ministry is piqued by this conflicting data. Officials said that the ministry has roped in some professional bodies to undertake a study on these discrepancies to arrive at the right status. They said that the results would be known in a month's time.
