Textiles Ministry may miss export target by $1 billion

NEW DELHI: The Textiles Ministry is likely to fall short of its export target of $43 billion for this financial year by about $1 billion.

"Our textile exports (this financial) year will be around $42 billion," Textiles Minister K S Rao told reporters at an event here.

Textile exports stood at $34 billion in 2012-13 and the government has set a target of $60 billion for 2014-15. The industry employs 80 million people directly and indirectly.

Rao also distributed free mini toolkits to handicraft artisans. The kit contains improvised tools and safety equipment to support artisans.

The tools were selected keeping in view the class of their craft, simplicity in operation, reliability and adaptability to help enrich product competitiveness in the international markets.