MMFT exports to neighbouring countries in 2005-06 up by 36%

New Delhi, Apr 2 (UNI) India's man-made fibre textile MMFT) export to the neighbouring countries of Pakistan, Bangladesh, Nepal and Sri Lanka have shot up considerably, while it declined sharply to Singapore, Indonesia and Spain during April-October 2005-06.

Exports to the four neighbouring countries accounted for Rs 302.94 crore during April-October 2005-06 as against Rs 223.29 crore during the same period in 2004-05, registering an increase of about 35.67 per cent.

Exports to Pakistan jumped by a whopping 1231.35 per cent to Rs 12.33 crore during April-October 2005-06 from less than Rs one lakh during the same period in 2004-05, while exports to Bangladesh recorded a growth of 45.66 per cent at Rs 141.61 crore from Rs 97.22 crore.

Nepal recorded an increase of 217.01 per cent at Rs 8.80 crore from Rs 2.77 crore, Russia by 148.27 per cent from to Rs 5.80 crore from Rs 2.33 crore, Sri Lanka 14.56 per cent at Rs 140.19 crore from Rs 122.37 crore the previous year.

MMFT exports to Japan also registered an increase of 40.73 per cent to Rs 49.02 crore from Rs 34.83 crore and Germany by 39.89 per cent at Rs 108.42 crore from Rs 77.51 crore.

Among the top 20, markets which witnessed a decline for exports of MMFT from India included Singapore which witnessed a major drop of 57.32 per cent to Rs 77.93 crore from Rs 182.58 crore.

Loss of exports to Indonesia was 38.81 per cent at Rs 60.50 crore against Rs 98.87 crore, Spain by 36.15 per cent at Rs 81.74 crore against Rs 128.01 crore, France by 33.26 per cent at Rs 56.23 crore against Rs 84.25 crore and United Arab Emirates by 32.74 per cent to Rs 758.50 crore from Rs 1127.73 crore.

According to Synthetics and Rayon Textiles Export Promotion Council (SRTEPC), the overall exports of MMFT during April-October 2005-06 declined by 11.36 per cent in US dollar terms as compared with that of April-October 2004-05.

United Arab Emirates, the United States and Saudi Arabia are India's leading markets accounting for export of Rs 758.50, Rs 357.96 and Rs 264.68 crore respectively, the SRTEPC said.

UNI BBS SS HT1250