Synthetic Textile Producers Hope To Surpass Export Target.

Exports of synthetic and rayon textiles will surpass the current fiscal’s target of Rs. 247.5 billion if the Government extends support in the form of facilitative policies like extension of Duty Entitlement Pass Book (DEPB) scheme, Vinod K Ladia, Chairman of Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) has said.

Mr. Ladia said that during the months of April and May itself, the synthetic and rayon textiles sector attained 30 percent year-on-year growth in exports, which jumped to Rs. 41.35 billion.

He said that the producers are optimistic that if the trend persists, they may beat the current year’s export target set by the Government.

However, if DEPB scheme is prolonged or similar other schemes are introduced, and adequate availability of raw inputs at world prices is ensured, achieving this target would become easier, he added.

Synthetic textile exports for the 2010-11 fiscal grew to Rs. 215.71 billion as against 2009-10’s Rs. 197.75 billion, registering a year-on-year rise of nine percent.

Fabrics with a 50 percent share constitute a major part of exports, while yarns account for a 26 percent share, made-ups 16 percent and fibres eight percent.

SRTEPC is surveying expansion opportunities in new markets like Africa, Southeast Asia and South America and as a part of the same it will soon participate in trade fairs in Malaysia and Egypt.

India presently accounts for only four percent of world exports, the SRTEPC Chairman said, and added that in view of the present optimistic trend India can look forward to boost this share in global exports to six to seven percent within next two to three years.

Source : fibre2fashion.com