India-financial apparel export targets US$100 million
The Indian government has set a garment export target of $14 billion for the fiscal year 2011-12 due to rising demand from Western markets, Textile Undersecretary Rita Menon said today.
Menon said after launching the India International Apparel Exhibition: “We expect these exports to reach $14 billion because of good demand not only from traditional markets but also from emerging markets.
This three-day exhibition is organized by the Indian Garment Export Promotion Council.
In the fiscal year 2010-11, India’s apparel exports grew by 4.2% to $11.1 billion, compared with $10.7 billion in the previous fiscal year.
The United States and the European Union remain India’s main apparel export markets, accounting for 80% of India’s total apparel exports.
The Indian government attaches great importance to promoting apparel exports. Many new mechanisms, including government support for public compliance with the charter, support from the Knitting Technology Mission, etc., were proposed for the current financial year, Menon said.
In the first two months of the current fiscal year, India’s apparel exports rose sharply by 30% to $2.3 billion.
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights and interests, please contact us and we will change or delete it as soon as possible. </p
