New Delhi, Apr 22: Textile exports is expected to grow by 15 per cent during FY09, despite a steep rupee appreciation which brought down exports to 20.5 billion dollars during FY08 from the targetted 25 billion dollars. ''The Jan-Feb growth stood at 8.5 per cent which makes us optimistic. We are expecting a good year ahead,'' textile commissioner and joint secretary of textiles ministry J.N. Singh told reporters on the sidelines of a conference.
Earlier, Ministry of Textiles secretary A K Singh said the exports during the financial year 2007-08 stood at 20.5 billion dollars, which is 10 per cent more as compared to 2006-07. The steep rupee appreciation of last year has hit textile exporters earnings in rupee terms and has blunted their competitive edge in international market. The bleak picture of investment in the textile sector is also raising doubts over the investment target of Rs 1,94,000 crore projected in the 11th Five Year plan (2007-12).