Rupee appreciation has hit textiles exports hard: Vaghela

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Mumbai, Nov 22 (UNI) Union Textiles Minister Shankarsinh Vaghela today said the Rupee appreciation has adversely affected the textiles exports.

Mr Vaghela was talking to reporters after inaugurating the 2nd Asian Apparel Conference here today.

Textiles constitute the country's major export and the Rupee appreciation has impacted all exports, but the textiles sector has been the worst affected, he said. The Central Government is seized of the matter, he said.

Mr Vaghela pointed out that almost 3.5 crore people are employed in the textiles sector and the adverse affect on exports could lead to unemployment for at least a million of them.

Mr Vaghela said India's competition was chiefly with China in the textiles sector. But, China's textile sector, interest rate structures, the political situation and labour issues were different from that of India. The apparel of India brand still continues to enjoy credibility in the international market, he added.

Earlier, inaugurating the conference, Mr Vaghela said Asian countries are the major force in the global apparel market.

UNI

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