The Hindu Business Line : `Textile exports to US, EU show big growth'

THE country's textile exports in the non-quota regime, effective from January 1, 2005, has registered a phenomenal growth in market share in the US and European Union.

This was stated by Mr Shankarsinh Vaghela, Union Textile Minister, who was in the city for the inauguration of the new office of the Textiles Committee. According to him, only China had registered such growth rates in these two markets.

He said: "Everyone had apprehended that the Indian textile sector would fail to compete against Mexico and other players in the neighbouring region of the US. The banks were labelling the textile industry as the sunset sector. However, we have proved everyone wrong. Apart from India, only China succeeded in these markets during the last year."The Indian textile industry's share in the American market, the Minister said, has increased by 26 per cent. In the EU, it recorded a 20 per cent growth. "Ours is now a sunrise industry," he said.

The West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, urged Mr Vaghela to set up a special committee to study the impact of Chinese silk imports into India, with the proposed opening of the Nathu La Pass trade route in the North-East.

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