India’s textiles exports are expected to cross $40 billion during the current fiscal, Textiles Secretary UB Singh said on Wednesday.
However, he said that if the maximum increase in exports would come from the shipment of cotton yarn, then “I am not too comfortable”.
“We would not only touch the $40 billion exports target, (but) we should be crossing the $40 billion mark this year as far as exports are concerned,” Singh said.
He asked the industry to look at exports, whether the growth is coming through volumes or price increase.
“I would be happy if it comes through larger volumes,” he said at a function.
The secretary said that some garment industry players have suggested banning the export of cotton yarn or raw cotton. Still, the government has deliberately not taken those decisions because it does not believe in interfering with the market forces.
On Mega Integrated Textile Region and Apparel (PM MITRA) parks, he expressed hope that 12 states would come forward for that.
Speaking at the function, Minister of State for Textiles Darshana Vikram Jardosh also said that the government had taken steps to promote the growth of manufactured or man-made fiber.