India’s textile export grows 8 percent in November
December 20th, 2009 - 5:17 pm ICT by IANS ( Leave a comment )New Delhi, Dec 20 (IANS) India’s textile exports grew 8 percent in November following a surge in demand from Europe and new markets in Africa and Latin American countries, a textile ministry official said Sunday.
Exports grew by over 11 percent during first two quarters of last fiscal, but started falling during the third and the concluding quarter with a decline of 10 percent at $20 billion (Rs.100,000 crore) in wake of the global slowdown.
“In November, our textiles exports increased by 8 percent. This is mainly because of revival in demand in few European countries besides other new markets in Africa, Oceania and Latin American countries which were identified in the new Foreign Trade Policy,” said Rita Menon, the textiles secretary.
Europe and the US are the two markets which account for at least 35 percent of India’s textile exports. However, India’s textile exports have not picked up in US substantially, says Menon.
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