Commenting on the textile exports that are likely to touch 22 billion dollars this year, CITI Secretary General DK Nair said, “The investment under Textile Up gradation Fund Scheme has been to the tune of Rs 79,000 crore, which is equal to the investment in the previous seven years put together under this scheme. The huge capacity addition has been primarily responsible for this.” “Since rupee has begun behaving, hopefully the exports will be stagnant and not decline this year,” Nair added. On cotton exports, CITI said India has already exported about 85 lakh bales, which can go up to 100 lakh bales in the next 3-4 months.Cotton prices in the country have increased by over 35 per cent in the last one year across varieties. While the prices of Punjab cotton have shot up by 60 per cent, those in Gujarat surged up by about 50-55 per cent, the body said.Source: ExpressIndia.com”
Date:7/2/2008
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