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Textile exports in FY15 pegged at $50 billion

CMAI president, Rahul Mehta, says National Garment Fair expected to generate a business of around Rs 500 cr

BS Reporter  |  Mumbai 

Textile exports in the current financial year are expected to grow 25 per cent to $50 billion, Union textiles minister Santosh Kumar Gangwar said on Monday. He noted growth was sluggish last year, with exports registering $40 billion against a target of $43 billion. He said the industry is set to witness robust growth this year.

After inaugurating the 59th National Garment Fair organised by the Clothing Manufacturers Association of India here on Monday, the minister acknowledged India’s labour laws needed to be amended, especially in the context of the large pool of unorganised workers in the textile sector. “We are aware of the need to take care of 80 per cent unorganised labour working in textiles and clothing sector,” he noted.

India is the second largest manufacturer and exporter of textiles and clothing after China.

Gangwar said that efforts are on to connect with neighbouring countries such as Pakistan, Bangladesh, Sri Lanka, Thailand, Cambodia, etc for the overall improvement of business in this sector.

The National Garment Fair has been organised from June 23 to 25h in Mumbai. Rahul Mehta, president of CMAI, said the fair was expected to generate a business of about Rs 500 crore.

First Published: Mon, June 23 2014. 22:33 IST