Textile Ministry official stated that the textile exports from India are likely to reach at a 25 percent growth rate during current year.
R Poornalingam, Secretary of Textile Ministry informed that however, ten percent of decline was registered during first four months of this year, the exports to United States (US) and European Union (EU) has been recorded a substantial rise, which would lead India to reach at 25 percent growth rate.
At the same time the US imports have a quantum jump of 24 per cent with India's share (exports) being 10 percent, whereas country's share in EU accounted for 11 percent of their total imports, Poornalingam added.
Furthermore, the Indian exporters were happy with the Central Governments schemes and upgradation carried out by exporting units. It would also help to boost textile exports to rise by 25 per cent.
The Secretary also added that the Ministry had selected an agency to revise various characteristics of textile exports, which include the turn-down during the starting months of after the ending of world textile quota system ( Formerly know as MFA), Poornalingam added.
