India's Union Textile Minister Thiru Dayanidhi Maran has expected the industry to raise the level of exports to US$25 billion by 2012 in order to maintain the country's economic growth.
He said that about half of the textile production is exported and the textile exports contributing 13.5% to the country's total merchandise exports.
He also added that Indian textiles and apparel exports, which are currently US$ 22 billion, are expected to register four folds increase to touch US$ 90-100 billion in the next twenty five years.
Approximately 60% of Indian exports of textiles and over 70% of clothing are to USA and EU 27 markets, and there is an urgent need to broaden product mix and explore new markets, while maintaining and increasing Indian textiles and clothing share in core markets through product innovation and diversification.
