Economy

Textile exports fall short of target in FY15

Our Bureau | | Updated on: Dec 06, 2021

Textile exports in 2014-15 registered a three per cent growth at $41.7 billion, against the targeted $45 billion.

There was a significant uptick in the overseas sales of handicrafts (17 per cent), carpets (15 per cent), ready made garments (12 per cent), silk (13 per cent), and wool and woollen textiles (18 per cent), said an official statement.

Sop sought

The Textile Ministry has approached the Commerce Ministry to include garments in the interest subvention scheme to help it compete with Vietnam, Sri Lanka and Bangladesh.

“The question is how do remain competitive. The main requests to the Commerce Ministry are the reinstatement of the interest subvention scheme and to give benefits to countries other than Europe and the US,” said Sanjay Kumar Panda, Secretary, Textiles Ministry.

Published on May 26, 2015
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