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Tuesday, Mar 26, 2002

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$1-b target set for powerloom exports

G. Gurumurthy


THE Union Ministry of Textiles has for the first time has fixed an export target of $1 billion for powerloom textiles for the 2002-03 fiscal.

The move to set a separate export target comes in the wake of requests from powerloom textile exporters and their apex body, the Powerloom Development and Export Promotion Council (Pdexcil).

The target for powerloom textiles was set at an export review meeting on March 21 the Textiles Minister had with various export promotion bodies/trade. The Ministry during the review meeting had also finalised the overall textiles export target for the year 2002-03 at $15 billion.

Disclosing this to Business Line, the Vice-Chairman of Pdexcil, Mr Senthil Kumar, who attended the review meeting, said he was confident that $1 billion export target could be achieved considering the past performance of the powerloom sector in exports.

Pdexcil's committee of administration meeting on March 27 will discuss ways and means to be adopted to achieve the target set for the sector.

The powerloom textiles exports for the 2001-02 fiscal are anticipated to close at Rs 4,900 crore, which is some 5.5 per cent lower compared to the previous year's performance. Going by this, Mr Senthil Kumar felt that achieving the one billion dollar target for the coming financial year would not be a major task for the powerloom exporters.

All these years, the Ministry used to fix an export target common for the entire cotton textiles by taking them as single unit covering the mill, handlooms, knitting and powerloom sectors. The Cotton Textiles Export Promotion Council (Texprocil) was the nodal agency to endorse the shipments/monitor the cotton textiles exports of yarn/fabrics/made-ups from these sectors. The data relating to these were also compiled by Texprocil.

With the Government doing away with the system of export endorsement for non-quota shipments by the export promotion councils, the data relating to the textile exports are being obtained from the Director-General of Commercial Intelligence and Statistics, Kolkata. DGCI&S data now offers separate compilation of exports from powerloom textiles, which would, according to the Pdexcil Vice-Chairman, facilitate monitoring of the powerloom textiles export performance.

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