The government on Wednesday said it is confident that textiles exports target of USD 33 billion for 2011-12 will be achieved as there is a good demand from markets like Japan and Latin America.
"I think we will meet the set target. I am confident that once we receive figures for November and December it (growth) will be higher. Besides, still there are three months to go ...," Secretary in the Textiles Ministry, Rita Menon, said.
She was talking to reporters on the sidelines of an Apparel Export Promotion Council (AEPC) function in New Delhi.
During April-October 2011-12, the textiles exports grew 35 per cent to USD 16 billion, she said. The Textiles Ministry believes that the same level of growth would be maintained in the coming months.
The exporters are exploring new markets aimed at reducing their dependence on traditional countries like the US and EU.
In these western markets,
"Japan is an emerging market for textiles exports as exporters are getting good orders from there," Menon said. The US and Europe together account for over 65 per cent of the country's total textiles exports.
During 2010-11, the textiles sector saw an export growth of USD 26.8 billion. On cotton exports in 2011-12 season, she said the Commerce Ministry has registered 39 lakh bales of cotton exports till now, we believe it (exports) is not going to be so rosy as before."
The cotton season runs from October to September. The Cotton Advisory Board (CAB) has projected the exports of natural fibre at 80 lakh bales in the 2011-12 cotton season.
The natural fibre exports stood at 70 lakh bales (of 170 kg each) in the 2010-11 year, according to CAB estimates. According to the Board's estimates, the natural fibre output is estimated at 356 lakh bales in the current cotton season against 325 lakh bales last year.
