Textile ministry raises garment export target by $150 million to $6.25 billion
New Delhi: The textile ministry has set the export target for garment sector at $6.25 billion for 2003-04, $150 million higher than the figure of $6.1 billion proposed by the Apparel Export Promotion Council. The council anticipates to achieve an export level of around $5.50 billion during 2002-03 against the target of $6 billion. The export target for textiles, including garments, for this fiscal has already been fixed at $16 billion. The achievement during the past fiscal, however, was only $13.8 billion against the target of $15 billion. The council attributes this shortfall to the decline in the unit value realisation of about 10 per cent from the US and 5.6 per cent from Canada.
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