Ministry Targets $60 Bn Exports

The Union Government has set a target of $60 billion for textile exports in 2014-15, as it aims to cash in on developed nations increasing dependence on India while focusing on skill development in the country.

"Next year, the (textiles exports) target will be $60 billion, having seen the potential and concentrating on skill development in the country, focus on textile sector by the government and also the necessity of the advanced nations to depend entirely on Asia, especially China and India," says the Union Textiles Minister K S Rao. The government has set textiles exports target of $43 billion for the current fiscal.

Meanwhile, Apparel Export Promotion Council (AEPC) has pressed for a 5 per cent duty credit scrip for the import of speciality fabrics not available in India on actual user basis and a separate chapter for exports in the banking sector for availability of easy credit to industry, to boost exports. The textile industry employs 80 million people directly and indirectly.