MUMBAI: Exports of cotton fabrics and made-ups have registered a growth of 11 per cent and 5 per cent, respectively, in 2014-15 fiscal.
While exports of cotton fabrics clocked USD 2.44 billion, made-ups mobilised USD 5.05 billion during the period.
“Even though the overall exports of cotton textiles declined 0.1 per cent compared to FY2014, the heartening fact is that exports of cotton fabrics and made-ups registered growth of 11 per cent and 5 per cent with exports reaching a level of USD 2.44 billion and USD 5.05 billion, respectively,” Cotton Textiles Export Promotion Council (Texprocil) chairman R K Dalmia said at the 61st AGM here.
The higher exports augurs well for the industry as exports of value added products in the long run would lead to greater employment and higher level of investments, he said.
Dalmia also stated that the mega trade agreements being promoted by the US and the European Union among themselves, and key trading partners like Korea, Vietnam and Japan, pose fresh challenges to countries like India.
It therefore would be best if India takes an integrated approach rather than an ad-hoc approach while negotiating new FTAs or re-negotiating old ones.
Dalmia said the textile industry is well placed to generate new jobs and meet the vision of Prime Minister to provide employment and promote inclusive growth.
