Govt. sets textile exports target of $60bn for next fiscal

textileThe government aims to achieve textile exports of $60 billion for the next financial year, thanks to sustainable growth in garment and apparel exports.

For the current financial year, the government has set a textile exports target of $43 billion. The target for the next year is therefore represents a year-on-year increase of more than 30 per cent.

Textile Minister K S Rao said it would not be a hard proposition to boost textile exports to achieve the exports target of $60 billion by end of March 2015.

Sharing the government's textile exports target for the next year, Mr. Rao said, "Next year, the (textiles exports) target will be USD 60 billion . It is not a difficult proposition to increase textile exports to achieve that target by March
2015."

He added that the government's focus on textile sector and western country's necessity to depend on Asia, particularly China and India, for textile goods would help India achieve the set target.

Mr. Rao was speaking to reporters on the sidelines of Tex-Trends India 2014 at Pragati Maidan on Monday. The Tex-Trends India 2014, which covers cotton textiles, jute garments, fashion jewellery, home furnishing etc, is one of the biggest textile shows in Asia.