He said the US, which is India&aposs single largest market for textiles and
clothing products, and many other major buyer countries have been facing
economic slowdown leading to adverse impact on New Delhi&aposs exports.
The
domestic industry sources also have been reporting production cuts and capacity
under utilisation, he said. Indian exporters have lost the competitive edge due to high domestic transaction
costs and incidences of multiple duties and taxes, he added.
Date:2/19/2009
Source: