Indian Textiles Industry is ready to break all previous records reaching US $50 billion dollar by 2010.
Till last year, annual export rate of Indian textile was $15 billion, but globalisation and some encouraging steps taken by the centre have expanded exports from about 3.5 percent till 2003-04 to over 16 percent at present, informed Rajeev Aggarwal, Secretary, Textiles Committee, Government of India, on the eve of a one-day workshop on textile industry.
The EU countries and the USA are main destinations for the exports of apparel, home textiles and readymade garments, however Indian Textile Ministry is also concerned about unexplored markets of Middle-East, South Asian and South East Asian countries to meet the targeted export figures, said Aggarwal.
Speaking about domestic market, Aggarwal said till last year, it was about four percent and with the arrival of malls and industrial estates, business was likely to expand by another three to four percent by the end of this fiscal.
Over 125 experts of the country would take part in this workshop and discuss various problems of craftsmen associated with the industry, Aggarwal added.
