Tex­tile Ex­ports Re­main Flat at $40 bn in FY16

The Economic Times - - Economy: Macro, Micro & More -

Tex­tile ex­ports re­mained flat at $40 bil­lion in the last fis­cal, as com­pared to $41.4 bil­lion in 2014-15, Union Min­is­ter San­tosh Kumar Gang­war said here on Thurs­day. “De­spite poor mar­ket con­di­tions, the tex­tile in­dus­try did well as com­pared to other sec­tors on ex­port front. Ex­ports re­mained at $40 bil­lion in 2015-16,” the Min­is­ter of State for Textiles said af­ter the in­au­gu­ra­tion of Tech­no­tex 2016 con­fer­ence here. In 2014-15, tex­tile ex­ports stood at $41.4 bil­lion. Ex­port dur­ing last fis­cal were how­ever lower than the tar­get of $47.5 bil­lion set for tex­tile and cloth­ing. The sub­dued trend in ex­port was due to re­ces­sion­ary trend in the EU and the US mar­kets, ex­perts said.

MUM­BAI

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