Dayanidhi Maran, Textile Minister explained, terrible days for exports in textile are now over and positive signs of recovery can be seen through the grounds in global front in the form of Major European and other markets.
“We can read, in the middle of the lines expressing recession days for the exports in textile seems to be over. We are now in the positive fronts”, said Maran after the inauguration of exhibition regarding handicraft cluster.
Exporters dealing with textile are getting new orders from both European and US markets as the inventories are getting over quickly.
“Growth of 5% has already been monitored in December and approx 7% during January based on monthly analysis after the registration of 15% decline recorded during April-November 2009”, added the minister.
Positive trends are expected during the coming fiscal, he said further.
Decline of approx 2% at $21.75 billion was recorded in 2008-09 in comparison to 2007-08 in the textile exports of India, due to reduced demand from the western markets.
Textile sector that employed around 35million people, experienced thousands of closure in units and loss of approx 7lakh jobs in 2008-09, estimates of the Confederation of Indian textile Industry show.
Fearce days for exports in textile are now over, explains Maran
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