Textile exports projected to touch 55 billion USD

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Bangalore, Feb 19 (UNI) Textile exports from India were projected to touch 55 billion USD by the end of the 11th Plan period despite the rupee appreciation against the US Dollar, according to G Sreekanth of the Institute of Engineers here.

Announcing the Institute hosting a two-day 21st National Convention of Textile Engineers and National Seminar on 'International Quality Standards in Textile and Apparel Industries and their implementation to be held here from February 21, he said the projected exports of Textiles and Apparels during the 11th plan were 24 billion USD in the first year, and increasing at an annual average growth rate of 20 per cent. The figure wouldreach 55 billion Dollars by 2011-2012.

He said more than 700 delegates from all over the country, including 300 from textile and apparel industries, would participate in the Convention and Seminar in which the crucial stage faced by the industry due to Rupee appreciation against USD would be discussed.

Besides, there was stiff competition from countries like China, Pakistan, Bangladesh, Vietnam, Thailand, Brazil, Sri Lanka and Indonesia, he added.

He said thanks to globalisation textile and apparel sectors had undergone tremendous changes. Each and every company was striving to produce products with best quality at lesser price.

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