Textile export projected to touch 55 billion USD during XI plan

Bangalore, Feb 19 (UNI) Textile export from India was projected to touch 55 billion USD by the end of XI Plan period despite rupee appreciation against US Dollar, according to G Sreekanth of the Institute of Engineers here.

Announcing the Institute hosting a two-day 21st National Convention of Textile Engineers and National Seminar on 'International Quality Standards in Textile and Apparel Industries and their implementation to be held here from February 21, he said that the projected exports of Textiles and Apparels during the 11th plan are 24 billion USD in the first year, increasing at an annual average growth rate of 20 per cent to reach 55 billion Dollar by 2011-2012.

He said that more than 700 delegates from all over the country, including 300 from textile and apparel industries, would participate in the Convention and Seminar in which the crucial stage faced by the industry due to rupee appreciation against USD would be discussed. Besides, stiff competition was faced from countries like China, Pakistan, Bangladesh, Vietnam, Thailand, Brazil, Sri Lanka and Indonesia, he added.

He said that thanks to globalization the textile and apparel sectors have undergone tremendous changes and each and every company is striving to produce products with utmost quality at lesser price.

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