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| India expects textile and apparel exports to US$24 billion in the fiscal year of 2010-11 |
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India's government anticipated textile and apparel exports overseas may reach US$24 billion in 2010-11.
"In 2009-10, our textiles exports are estimated at US$20 billion due to the global economic crisis. We expect exports to be US$24 billion for the current fiscal," said the Textile Ministry of India.
However, helping hand from the government is needed in order to meet the target, according to A Sakthivel, President of the Federation of Indian Export Organisations (FIEO). He cited the rising costs of fabrics as a risk and urged the authorities to continue the regulation on cotton and cotton yarn exports. The government has brought cotton exports under the restricted category, with overseas shipments subject to licensing.
The US and European markets account for 30-35% of textile exports from India, and Indian textile and apparel exporters are also exploring new markets like Africa, Latin America and Oceania, said D K Nair, Secretary General of the Confederation of Indian Textile Industry (CITI).
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