NDTV Biz: "India has targeted to increase textile exports to about 30 billion dollars in the next two years following the lifting of quota regime from January 1, 2005.
Textiles Minister Shankarsinh Vaghela informed about the numbers to the Rajya Sabha today. He said India will try to more than double textile exports from the present level of $13 billion annually to between $26-30 billion annually in the next two years.
In reply to a query, Vaghela said India will be able to overcome the threat from China in the sector as Beijing will have to wait for three more years to avail of the quota free regime as it had joined the WTO late. Among various measures, Vaghela said the banks which were not providing credit for the textile sector have now disbursed about Rs 20,000 crore of loans to the sector. "
Thursday, December 16, 2004
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