The Hindu : Business : More sops for textile exporters soon

Online edition of India's National Newspaper
Wednesday, Jul 25, 2007
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Business

More sops for textile exporters soon

Special Correspondent

NEW DELHI: The Union Textiles Minister, Shankersinh Vaghela, on Tuesday said that the Central Government would announce more concessions to textile exporters in the next 10-15 days to overcome the problems they were facing on account of the appreciation of rupee against the U.S. dollar.

He agreed that the appreciating rupee had brought down textile exports to about $5 billion in the first quarter of the current fiscal, which was 36 per cent less than the expectation of exports of $7.5 billion. But he expressed confidence that the export target of $25 billion set for the current fiscal would be met as bulk of the order came during the last two quarters of the fiscal. The concessions being given would also help, he said.

Mr. Vaghela announced that a high-level two-day textile summit would be held here on August 31 and September 1, where all the issues relating to the textile industry would be discussed with the industry and other stakeholders.

Mr. Vaghela inaugurated a website created by his Ministry specially for the summit, www.texsummit.in , and also released a brochure on the summit. The event will be held at Vigyan Bhavan.

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