According to provisional data, India’s textiles and clothing exports during 2006-07 were of the value of $18,729.93 million, as against exports valued at $17,520.07 million during 2005-06, registering a growth of 6.91 per cent. . . The minister of state for textiles E V K S Elangovan, informed the Lok Sabha that the government was aware of the problems being faced by the garment exports in the wake of appreciation of the rupee. . . According to reports from export promotion councils, garment exports and the textile industry had been adversely affected due to appreciation of rupee, he said. . . Mr. Elangovan stated that during the eight years of operation of technology upgradation fund scheme (TUFS), differential level of benefits had been observed in different segments, with upgradation in certain segments like spinning and composites having benefited as desired, leaving the government scope to focus on segments like processing, garments etc. . . The scheme incorporates rationalization in technical and financial norms. It is expected to induce capital investment in the textile sector to achieve growth parameters for fibre, yarn, fabric and garment production chain, help the textile sector capitalize on the vibrant and expanding global and domestic markets through technology upgradation resulting in cost effectiveness, quality production, efficiency and global competitiveness in line with the goals enumerated in the ‘vision statement’ for the textile industry (2007-2012). . . The scheme is expected to generate 16 per cent annual growth and create additional capacity building in all the segments of the textile sector and It will propel investment in the sector to the tune of Rs 150,600 crore .. Source: Baharattextiles.com
Date:8/22/2007
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