Mumbai, Sept. 8
SYNTHETIC and rayon textiles exports shot up to an all-time high of Rs 9,681 crore for the year 2004-05. In dollar terms, the growth in exports was about 12 per cent.
According to Mr R.L. Toshniwal, Chairman, Synthetic & Rayon Textiles Export Promotion Council, exports had been directed at 183 countries in 2004-05, over 177 in the previous year. He was speaking at the annual general meeting of the council in Mumbai.
The share of the `quality conscious' European Economic Community (EEC) was 20 per cent, while the share of the price-sensitive West Asian market was 34 per cent.
US emerged as the second largest market for India's exports, accounting for eight per cent, amounting to Rs 785 crore. "Our exports to the US during 2004-05 grew by more than five per cent."
Mr Toshniwal added that fabrics and made-ups, both value-added products, accounted for 48 per cent and 19 per cent of the exports, respectively. These categories had shown satisfactory growth over the previous year, which stood at Rs 4,685 crore and Rs 1,813 crore, respectively.
This year the Government has increased the council's export target to $2,300 million from $2,200 million last year.
However, the first two months of this financial year, "exports declined by 12 per cent in rupee terms compared to the exports during April-May 2004." As per the information available from the daily list of customs, the exports of man-made yarn, fabrics, made-ups and man-made staple fibre from major Indian ports were Rs 1,116 crore in April-May 2005 compared to Rs 1,263 crore for the corresponding period last year.