India : MMF textile exports on the path of recovery - SRTEPC - Textile News India

Despite the continuous decline in overall exports, there have been signs of recovery in the exports of man-made fibre textiles from India, according to Shri Ganesh Kumar Gupta, Chairman of The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC).He opined that this was a good indicator that Indian exporters have started recovering their lost momentum steadily, leaving behind the worst days of global financial crisis of the last year. He expressed the confidence that Indian MMF textile exports would register a positive growth in this calendar year.Shri Gupta pointed out that according to the April-September 2009 export data, India’s Man-made fibre textile exports had grown by 10.13% in dollar terms and 26.32% in rupee terms, as compared to the same period of last year. He expressed the hope that the flow of positive information of recovery in the economies of the USA, Australia, New Zealand, UAE and Europe, which are the major markets for India’s MMF textile exports, followed by the sales in Christmas and New Year would lead to a significant improvement in exports from India. However, he reiterated his request to the Government to increase the Duty Drawback Rates to boost exports by enhancing the price competitiveness of Indian exporters in the intensely competitive global markets.