Wednesday,Aug 02,2006
Textile exports up 21.8% in FY06 http://www.business-standard.com/common/storypage_c.php?leftnm=11&bKeyFlag=IN&autono=3739
Press Trust of India / New Delhi August 1, 2006
India's textiles and clothing exports rose 21.8% to $ 17.08 billion in FY06, the first full fiscal after the dismantling of the quota regime in international trade on January 1, 2005.
The country's textile and clothing exports to USA and the European Union increased by 26% and 18% respectively in 2005, Minister of State for Textiles E V K S Elangovan told the Lok Sabha in a written reply.
The US and EU together account for about two-third of India's total textiles and clothing exports, he said, adding as per the latest available WTO data, the country's share in world textile and clothing trade during 2004 was 4% and 2.8% respectively.
To a query, Elangovan said the government has set up a Group of Ministers on the "Textile Export Scenario - performance, prospects and the way forward". The GoM has considered various options for providing flexibility in labour laws in the sector, but is yet to firm up any recommendations on the matter, he said.
Replying to another question, he said the government has closed down 66 unviable mills of the National Textile Corporation.
With regard to the National Jute Manufacturers Corporation, the government has approved an action plan involving Voluntary Retirement Scheme to employees and reviving two units as per recommendations of Board for Public Sector Enterprises.
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