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India set to achieve USD48.5bn target for textile sector this FY

YarnsandFibers News Bureau 2016-07-30 13:00:00 – New Delhi

With China’s present share in global export of textiles and apparel estimated to decrease from 40% to 33% by 2025 which is likely to open an opportunity of more than US$ 150 billion for other exporting nations including India to increase its exports.

India has mapped strategy to achieve the target of US Dollar 48.5 billion for textile sector in current financial year by announcing the special package of Rs 6,000 crores which will boost the employment generation and export of textile and apparel.

The information was given by the Minister of State for Textiles, Ajay Tamta in a written reply to a Rajya Sabha question.

According to reports, Indian exporters have been edged out of traditional markets like Europe by exporters from Bangladesh and China.

In 2015-16, India exported $36.25 billion worth of textiles and related goods, a 2.4% decline from 2014-15.

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