Textile Exports Remain Flat at $40 bn in FY16
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.