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Exports to fall short of targeted $25 Billion
Saturday, 29 January 2011, 06:08 IST
New Delhi: The Textiles Ministry said that exports are likely to fall short of the targeted about $25 billion for 2010-11, as it has reached only $11 billion till September, 2010.
"We had set a textiles exports target of $25 billion for the current fiscal. But now, we are expecting textiles exports in the range of $22-23 billion in the current fiscal," Textiles Secretary Rita Menon said.
During 2009-10, the country's textiles exports stood at $22.4 billion.
The US and EU together contributes 70 percent to the country's total textiles shipments.
The sector was hit-hard due to global economic slowdown in the western markets which led to less number of orders for the Indian exporters.
The economic recovery is still fragile in the West and the demand is still to pick up, Menon said.
Source: PTI
Source: PTI