Textile Min targets $635 mln exports in 2007-08

New Delhi, Apr 25 (UNI) The textile ministry today announced an export target of 635 million dollars for 2007-08 from the woolen industry, a growth of 27 per cent over the 500 million dollar figure set last fiscal.

The Export Promotion Council (EPC) is seeking solution for the problems of the woolen industry like higher customs duty on wool waste, textile machinery, higher transaction cost and irregular power supply pending with the government.

''If the government solves these problems, it will boost the exports and help achieve the target,'' an EPC official said.

The targets have been set for exploring possibilities of increasing India's share in the international markets. The boost has been given by the council through its constant participation in various fairs and exhibitions where selected range of woolen products were displayed by the participants.

The annual supplement to the Foreign Trade Policy, presented on April 19 by the Commerce and Industry Minister Kamal Nath, led to the introduction of a number of schemes for the promotion of export of Indian woolen products to various countries.

UNI