India Textile And Clothing Will Not Be Able To Achieve Export Targets Of &Nbsp, 330&Nbsp, And Billion US Dollars This Year.

In the current fiscal year, the India government set a target of $33 billion for textile and clothing exports, but textile and garment exports may not be able to achieve this goal. Although the rupees are weak and the foreign trade policy has announced export awards, because of the financial crisis in the United States and Europe, the biggest buyer's market is leading to a downturn in demand. At the same time, textile mills are worried that it will be difficult to transfer huge raw material costs to consumers.

Nair, Secretary General of India Textile Industry Federation, said that India is the second largest textile and apparel industry in the world. Exporting country But exports may be less than US $30 billion in 2011-12.

India's exports of textiles and clothing amounted to US $28 billion in 2010-11. The government expects exports to increase in the current fiscal year, as demand seems to be restored after the global financial crisis in 2008. The United States and the European Union are the most heavily affected countries in the debt crisis. The United States and the European Union account for about 65% of India's textile exports.

Although the government has not released the complete data on textile and clothing exports, so far, according to the Ministry of commerce data, the export of textile yarn and fabric increased by 22.5% to 3 billion 400 million US dollars in the financial year -9 April, while ready-made clothing exports increased by 32% to US $6 billion 800 million. Nair said that due to the adverse impact of the debt crisis of the United States and the European Union, the situation will get worse.

　 The textile industry accounts for about 14% of industrial production, accounting for more than 10% of the total export volume. Employment is second only to agriculture and employs about 3500 people.

Nair said that because of the fluctuation of cotton prices, the textile mill lost 65 billion rupees. Textile mill Before September, the average price was 57000 rupees / candy (356 kg). Buy Cotton is used as production inventory. Since then, demand has slowed, and their stocks are enough to support December.

Cotton prices also plummeted, and textile mills lost about 20000 rupees per CANDY cotton. Because the government has restricted the export of cotton yarn in 2010-11 years, the textile mill has lost 45 billion rupees, and the output of cotton in 2010-11 years is far greater than domestic consumption.