Effort for level field to textile sector on

indian textile industry will face fierce competition both in exports and domestic market due to lowering of tariff barriers, removal of quantitative restrictions and the phasing out of the multi fibre agreement, textiles minister kashiram rana said on monday. he said to meet the challenges created by these developments, the government is continuously providing an enabling environment for the industry to be globally competitive. realising the vast export and employment potential of textile and clothing industry and meeting the challenges it faces, a coherent policy initiatives are being undertaken, rana said, addressing a convocation of national institute of fashion technology here. referring to the textile policy 2000, he said it will provide policy direction for orderly and sustained development and growth of the textile industry. one of the aims of the policy is to achieve a export target of $ 50 billion by 2010 from the current $ 11.2 billion. of the targeted amount the share of readymade garments would be $ 25 billion, he said. rana said a slowdown in exports was noticed from the beginning of this year and it became pronounced during the period april-july 2001. the slowdown has been attributed to declining global demand triggered by the slowdown in the economies of some of our major trading partners like the us, he said. the increase in freight and insurance cost due to present uncertainties is also expected to cause erosion in our cost competitiveness, rana said. however, despite these developments, there is no need for despondency, he said. textile ministry has taken a series of measures for reducing the transaction costs and time of the exporters, by way of major relaxations in the operation of quota policy, the minister said. rana said government is launching an ambitious programme to upgrade 2.5 lakh plain power looms to semi-automatic or automatic looms and has decided to induct at least 50,000 shutterless looms during the next three years under its scheme. besides, the schemes for setting up apparel parks and for development of infrastructure facilities at major textile production centres have been announced, he said, adding guidelines for these schemes would be issued soon. it is our constant resolve to combat the adverse effects so that our textile exports do not suffer in the short-term and stay on course of sustainable competitiveness in the international markets, he said. rana said textile industry is one of the largest segments of indian economy accounting for 20 per cent of the industrial production as well as providing direct or indirect employment to around 65 million persons. it also accounts for nearly 30 per cent of the country's total exports. despite strong domestic demand-pull, exports have witnessed steady growth over the years, he said, adding the share of india's textile exports in the world has grown from 1.8 per cent in the beginning of 1980's to around 3 per cent at present. the advantages arising from strong raw material base, the well established yarn and fabric industry and relatively low labour cost has led to a quick growth in textile exports, from an insignificant base of less than $3 million in the beginning of 1970s to nearly $ 12-13 billion at present, he said.

Effort for level field to textile sector on

INDIAN textile industry will face fierce competition both in exports and domestic market due to lowering of tariff barriers, removal of quantitative restrictions and the phasing out of the multi fibre agreement, textiles minister Kashiram Rana sai...

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