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| India targets to increase exports to US$6.2 billion by capturing 4% of market share by 2011-12 |
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The Synthetic and Rayon Textile Export Promotion Council (SRTEPC) targeted to more than double the Indian export of man-made textiles.
G.K. Gupta, Chairman of the SRTEPC, said the global man-made fibre (MMF) trade accounts for 60% of total trade in textiles, and India accounts for less than 3% at Rs 15,767 crore (US$3.42 billion).
"Our target is to increase exports to US$6.2 billion by capturing 4% of market share by 2011-12," he said at the "Source India 2010", a two-day trade exhibition in Mumbai, India held in January. He added that the SRTEPC planned to attract more buyers, especially from the Gulf region and Africa.
The Middle East accounts for 32% of India's total man-made fibre exports, followed by Europe 21%, the US 16% and Africa 15%. Total exports of MMF textiles between April and October 2009 were at Rs 10,124 crore, compared to Rs 8,186 crore in the same period of the previous year, registering a growth of 24%.
Among the Gulf countries, the United Arab Emirates (UAE) is a leading importer of Indian MMF textiles worth about Rs 2,441 crore, according to the SRTEPC. The UAE is also an important market for re-export in the Middle East, the Commonwealth of Independent States (CIS) and North Africa. In addition to the UAE, leading markets in the Middle East include Turkey, Saudi Arabia, Syria, Iran, Israel, Kuwait, Oman, Bahrain, Jordan, Lebanon, Qatar, Iraq and Yemen.
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