Mumbai, Jan 8
The Synthetic and Rayon Textile Export Promotion Council (SRTEPC) has set a target to more than double the export of man-made textile from the country.
Addressing the media on Friday, Mr G.K. Gupta, Chairman, SRTEPC, said the global man-made fibre (MMF) trade accounts for 60 per cent of total trade in textiles and India accounts for less than three per cent at Rs 15,767 crore ($3.42 billion).
“Our target is to increase exports to $6.2 billion by capturing four per cent market share by 2011-12,” he added while announcing the Council plans to organise “Source India 2010”, a two-day B-to-B trade expo in Mumbai between January 28 and 29.
Targeted to attract more buyers especially from the Gulf and African continent, the event, being held under the aegis of the Ministry of Textiles, would showcase the latest range of textile products in India.
Middle-East accounts for 32 per cent of India's total man-made fibre exports, followed by Europe 21 per cent, the US 16 per cent and Africa 15 per cent.
Exports of MMF textiles during April-October '09 were at Rs 10,124 crore against Rs 8,186 crore in the same period last year, registering a growth of 24 per cent.
Among the Gulf countries, the UAE is the leading importer of Indian MMF textiles with deals worth about Rs 2,441 crore. UAE is also an important market for re-export in the entire Middle East, CIS and North Africa region.
Other leading markets in Middle-East are Turkey, Saudi Arabia, Syria, Iran, Israel, Kuwait, Oman, Bahrain, Jordan, Lebanon, Qatar, Iraq and Yemen.
Over 100 companies would display a wide range of products to more than 150 international buyers from over 18 countries from the Middle-East Asia, North Africa and South Asia. The event would also offer the finest range of market-specific products aimed at specific countries and their buying habits. The expo will feature three fashion shows, conceptualised by choreographer Mr Marc Robinson, depicting collections from 30 prominent fashion designers.