JOIN US“In November, our (textiles) exports increased by about 7-8 per cent...the growth is mainly because of revival in demand in some European countries,” Textiles Secretary Rita Menon said. Demand also picked up in the new markets (identified in the Foreign Trade Policy 2009-14) in Africa, Latin America and Oceania, Menon said.
The US and European markets account for 30-35 per cent of textile exports from India. “Demand for Indian textiles in the US was also going up but not substantially,” she said. After growing by over 11 per cent in the first six months of 2008-09, exports started falling in October and ended the fiscal with an overall decline of 10 per cent at US$20 billion.
India’s merchandise exports are on decline since October 2008 in wake of the global demand slowdown. But the exports have started moving up and the outward shipments grew by 18 per cent in November mainly because of low base Meanwhile, the Textiles Ministry would be holding series of exhibitions of handloom products in major cities like Delhi and Chennai from tomorrow.