Think global, Vaghela tells the textiles industry

Subscribe to Oneindia News

Mumbai, Jan 16 (UNI) Union Textile Minister Shankersinh Vaghela has urged the textiles industry to ''think global'' and exploit the potential of those regions which have remained untapped so far.

Mr Vaghela was speaking at the ''Export Awards 2008'' function organised by the Synthetic and Rayon Textiles Export Promotion Council (TEXPROCIL) here yesterday.

''Even as we need to cultivate those areas and markets where we have, over the years, strengthened our position and reputation, sustained and sincere efforts need to be made to exploit the potential of those regions that have been left untapped or underutilised.'' ''It is time to think global at every step and think beyond,'' he added.

He expressed confidence that the TEXPROCIL's efforts in this direction will ensure greater presence of India in the textiles export market.

Mr Vaghela admitted that the steep appreciation of the rupee against the dollar has badly affected certain segments of the Indian textiles industry. Exports have fallen quite drastically, he added.

The Government, he said, has introduced several measures to provide relief to the affected segments since July 2007.

TEXPROCIL chairman Sanjeev Saran, while speaking on the occasion, said that despite several constraints, the export of Man Made Fibres (MMFs) had registered an all time high of Rs 11,844 crore, thereby registering a growth of 16 per cent over the last year.

He thanked the Government for taking measures to provide relief to the textiles industry which has been hit hard by the rupee's appreciation. But, Mr Saran urged the Centre to resolve the issues of unrebated state taxes, high transaction cost, and losses suffered due to inadequacies in the infrastructure.

UNI AR MAZ AK VC1810

Please Wait while comments are loading...