India : Textile exports mark negative growth this year

Minister of State for Commerce, Mr Jairam Ramesh, in a written reply to the Lok Sabha, disclosed that major revenue earning sectors like textiles, cotton, handicraft, carpet, linoleum, yarn, fabrics, made-ups and jute manufacturing including floor covering have given negative growth in the first half of the present financial year.
In the period during April to September, country’s export growth has gone down to 18.5 percent in terms of dollars against 22.6 percent surge registered in the same period last year.
According to a survey lower growth in the manufacturing segments, rise in interest rates, reduced credit availability and rupee appreciation attributed to the negative growth in the exports.