15% Rise In Synthetic, Rayon Textile Exports
The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) is poised to achieve the targetted annual growth rate of 26 per cent at Rs 4,066 crore in the current financial year.
Exports during the first month of the current fiscal had shown a growth of nearly 15 per cent over the same month last year. Exports in 1996-97 had risen by just over 3 per cent to Rs 3,227 crore, SRTEPC chairman R L Toshniwal said.
Despite a growth of 12 per cent in volume last year, the moderate growth in value of exports was mainly due to the crash in prices of fibre-yarn in international markets to the tune of 40 per cent. This had resulted in a drastic fall in prices of all synthetic and rayon textiles items in various export markets, Toshniwal said, adding that the sluggish market conditions in Europe also contributed to the lower value realisation.
The competitive edge of the highly price sensitive Indian synthetic textiles was also blunted by the hardening of rupee against the dollar and other major international currencies. Besides, the abnormal pre and post shipment credit rates prevalent in the country also eroded the competitiveness of Indian exporters, he said in a statement here.
The share of fabrics in the total exports in 1996-97 was around 52 per cent at Rs 1,692 crore against Rs 1,727 crore in 1995-96. That of made-ups grew by 9 per cent to Rs 382 crore and yarn by 12 per cent to Rs 1,116 crore. Exports of polyester staple fibre was only Rs 27 crore.
In the fabrics category, exports of polyester blended-mixed fabrics registered a growth of nearly 10 per cent to touch Rs 822 crore as against Rs 750 crore in the previous year. Synthetic filament fabrics exports amounted to Rs 496 crore, cellulosic fabrics Rs 123 crore and polyester spun (including carbonised) fabrics Rs 204 crore.
In the made-ups category, which showed an overall growth of 9 per cent, exports of threads grew by 10 per cent to touch Rs 16 crore against Rs 14 crore in the previous year, while exports of shawls-stoles-dupattas amounted to Rs 193 crore and sewing threads Rs 27 crore.
Exports of acrylic spun yarn in the yarn category showed growth of 89 per cent at Rs 73 crore from Rs 39 crore and of polyester filament yarn by 80 per cent at Rs 147 crore from Rs 87 crore. Exports of polyester spun yarn improved by 23 per cent to Rs 97 crore.
, polyester-cotton yarn by 15 per cent to Rs 211 crore and viscose spun yarn by one per cent to Rs 140 crore.
Toshniwal said synthetic and rayon textiles were exported to 164 countries with 40 per cent of the trade directed to the European Union and 29 per cent to Middle-East.