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CHENNAI: Indian Textiles sector recorded significant recovery despite global financial crisis, inflationary trends and volatility in commodity
prices, which led to build up of strong demand side pressures. Despite slowdown, share of India’s textile exports in total exports increased to 12.05% from 10.82% in 2008-09, according to union textile minister Dayanidhi Maran.
In a ‘Look East Policy,’ new markets have been tapped to promote exports, besides consolidating existing markets like EU and US. As part of the initiatives, mega textile shows have been held to capture new markets in Japan, South Asia, Australia, Latin America and South Africa, he said, in a press statement issued by his ministry.
The minister, who has completed one year as the textile minister at the Centre, said the national draft fibre policy has been finalised by the Working Group constituted by the ministry. This has been put up in public domain for wider consultation on Wednesday.
11 June, 2010 by admin