Exports of MMF textiles touch an all time high for 2006-07

Mumbai, Sep 28 (UNI) Exports of Indian man-made fibre textiles has touched an all time high of Rs 11,300 crore during 2006-07, showing a growth of over 10 per cent compared to the previous financial year, Sanjeev Saran, chairman of synthetic&rayon Textiles Export Promotion Council (SRTEPC) said today.

Addressing the 53rd annual general meeting of SRTEPC here, Mr Saran said that in view of high raw material prices and fierce competition from China and other Asian countries, the performance was truly commendable.

Exports during the first four months of the current financial year (April-July 2007) indicate positive trends. As per the available port data, exports amounted to Rs 3,400 crore, registering a growth of over 27 per cent in rupee terms as compared with the exports during April-July 2006, he said.

The noteworthy trend during April-July 2007 was the remarkable growth in exports of yarn by nearly 65 per cent and fibre by over 48 per cent. However, the exports of value added items like fabrics and made ups just managed to remain positive, Saran said. ''This is a worrying development. Turkey and Brazil have emerged as the new promising markets. Other high growth markets at present are Germany, Belgium, Indonesia, Egypt and Afghanistan'', he said.

Saran urged the members to take note of the changing market while planning their marketing strategies.

UNI