In the prevailing circumstances of sluggish trend in the export growth, the trade managers are considering it hard to touch US$ 11.5 billion export target for textile group by June 30 this year, market sources said on Tuesday. Commenting on the export performance of the textile sector, they projected that the annual textile export was likely to be missed during the current fiscal 2006-07 that would also affect the overall exports.
The textile sector needs to export goods worth $ 3.5 billion during the last quarter of the current financial year 2006-07. The textile sector has been focusing their eyes on the governments proposed package and demanding financial support to boost the export of textile made ups.
According to the latest trade statistics of July-March 2006-07, the export of textile sector has amounted to $ eight billion during July-March 2006-07, recording an increase of $ 7.5 billion of the same period last year. An expert in one of the sub-sectors of textile raised the question whether the current growth rate of textile exports is satisfactory to achieve textile export of $ 11.5 billion during the current fiscal.
The exporters of textile goods are facing a tough time from the regional competitors including Bangladesh in the textile products and they have to prepare themselves for this hard time to compete them. They urged the government to take notice of the situation and help the sector.
The textile group, however, managed to grow by seven per cent but some major export-oriented sub-sectors dropped including raw cotton recorded a negative growth of 14.5 per cent, cotton cloth declined by 6.95 per cent, cotton carded or combed down by 51 per cent and bed wear registered negative growth of two per cent during the first nine months of this fiscal against the same period of last year, the recent data showed.
The Ministry of Textile Industry had recently in a high level meeting spelled out the need for balancing the textile chain by shifting the emphasis to weaving, dyeing and printing and garments sector while overcoming the problem of fragmentation, low productivity and low value addition.
The need for an enabling / conducive fiscal /incentive regime was also underscored along with the need for tariff rationalisation, dedicated credit lines, etc. Quality has to be improved through better conformity assessment through latest laboratories and testing facilities.
The changing marketing dynamics also needed a concerted strategy; spelling out a strategy to incorporate JVs, product and market diversification, road shows, supply chain warehouses, R&D, and value addition to target the high-end spectrum.
The textile sector needs to export goods worth $ 3.5 billion during the last quarter of the current financial year 2006-07. The textile sector has been focusing their eyes on the governments proposed package and demanding financial support to boost the export of textile made ups.
According to the latest trade statistics of July-March 2006-07, the export of textile sector has amounted to $ eight billion during July-March 2006-07, recording an increase of $ 7.5 billion of the same period last year. An expert in one of the sub-sectors of textile raised the question whether the current growth rate of textile exports is satisfactory to achieve textile export of $ 11.5 billion during the current fiscal.
The exporters of textile goods are facing a tough time from the regional competitors including Bangladesh in the textile products and they have to prepare themselves for this hard time to compete them. They urged the government to take notice of the situation and help the sector.
The textile group, however, managed to grow by seven per cent but some major export-oriented sub-sectors dropped including raw cotton recorded a negative growth of 14.5 per cent, cotton cloth declined by 6.95 per cent, cotton carded or combed down by 51 per cent and bed wear registered negative growth of two per cent during the first nine months of this fiscal against the same period of last year, the recent data showed.
The Ministry of Textile Industry had recently in a high level meeting spelled out the need for balancing the textile chain by shifting the emphasis to weaving, dyeing and printing and garments sector while overcoming the problem of fragmentation, low productivity and low value addition.
The need for an enabling / conducive fiscal /incentive regime was also underscored along with the need for tariff rationalisation, dedicated credit lines, etc. Quality has to be improved through better conformity assessment through latest laboratories and testing facilities.
The changing marketing dynamics also needed a concerted strategy; spelling out a strategy to incorporate JVs, product and market diversification, road shows, supply chain warehouses, R&D, and value addition to target the high-end spectrum.
