India’s textile and garment exports registered an almost flat growth at 41.4 billion US Dollar in 2014-15, against 40.8 billion US Dollar in the previous fiscal, falling short of this year’s target of 45 billion US Dollar.
The textiles ministry has set an exports target of 47.5 billion US Dollar for the current fiscal. “Textile exports in 2014-15 stood at 41.4 billion US Dollar as against a target of 45 billion US Dollar. For the current fiscal, “we have set a target of 47.5 billion US Dollar,” textiles secretary, S K Panda told newsmen in New Delhi.
Panda said the government is finalizing the new ambitious national textiles policy that aims to raise exports to 300 billion US Dollar by 2024-25 and create 35 million jobs.
He also said the textiles ministry has sought Rs 13,000 crore for the technology upgradation fund (TUF) scheme for the 12th Five Year Plan (2012-17).
Textiles Minister Santosh Kumar Gangwar who was also present there said the government has, already approved 20 textiles parks under the scheme for integrated textiles parks (SITP) in the past one year. Those are likely to create 75,000 jobs in the country, added.
