Textiles, clothing exports to touch $32.35 billion in FY'12: Textiles Minister Anand Sharma

NEW DELHI: The country's textiles and clothing exports are expected to touch USD 32.35 billion in the 2011-12 fiscal, Parliament was informed today.

"An exports target of USD 32.35 billion has been prescribed for the textiles and clothing sector for 2011-12. During 2010-11, the textiles sector achieved an export figure of USD 26.8 billion," Textiles Minister Anand Sharma said in a written reply to the Lok Sabha here.

He said the size of domestic textiles industry was expected to reach USD 65 billion by the end of the 11th Five-Year Plan (2007-12).

Sharma noted that the share of textiles and clothing as a percentage of the country's overall export basket decreased from 11.46 per cent in 2008-09 to 10.63 per cent in 2010-11.

Referring to the latest data published by the World Trade Organisation, Sharma said the share of India's textiles and clothing exports increased to 3.91 per cent of the global market in 2009, up from 3.36 per cent in 2007.

Talking about capacity addition in the sector, Sharma said 9 million additional spindles have been established during the 11th Plan so far, taking total spindlage in the country to 48 million spindles as of March, 2011.

Cotton yarn production increased from 2,948 million kg in 2007-08 to 3,510 million kg in 2010-11, he said. What is more, fabric production also increased from 55,257 million square metres in 2007-08 to 61,057 million square metres in 2010-11, he added.