Textile exports catch up despite delayed take off

New Delhi, Apr 9: Catching up fast in the last six months, India's textile exports went up to 17 billion dollar in fiscal 2005-06 from 13.50 billion dollar in the previous financial year.

''Though it was a delayed take-off after the phase-out of the WTO Agreement on Textile and Clothing, the textile exports have caught up and investment is taking place,'' Commerce Secretary S N Menon has said.

After growing by a meagre five per cent in the first half of 2005-06, the textile exports shot up by an impressive 44 per cent between October,2005 and March 2006.

Regaining confidence, exports of textile goods to the US went up by 26 per cent and the European Union by 18 per cent,the Commerce Secretary said.

UNI