Millennium Post
Business

Textiles export growth flat at $7.8 bn in Q1

India's export of textiles and clothing remained almost the same year-on-year at $7.79 billion in the April-June quarter this fiscal, Parliament was informed on Monday.

In the first three months of the last fiscal, the exports stood at $7.76 billion, Minister of State for Textiles Panabaaka Lakshmi said in a written reply to the Lok Sabha.

Referring to the provisional figures, she said: ‘During the first quarter of 2013-14, India's textiles and clothing exports have increased to $7.79 billion, from $7.76 billion over the same period of the 2012-13.’

In 2012, the volatility in major markets including the US and EU affected severely India's textiles and clothing exports, she said. America and Europe account for 65 per cent of the country's total textiles exports. Exporters are also exploring new markets like Japan, Australia, Israel, Latin America, Africa, South East Asia and Middle East countries. To boost textiles exports, the government has taken various steps including providing three per cent interest subvention, inclusion of new markets like New Zealand, Latvia, Lithuania and Bulgaria under the focus market scheme and incremental export incentive scheme.
Next Story
Share it