Exports of man made fibre textiles have registered a growth of over 27% in rupee terms and amounted to Rs 3,400 crore during the April-July 2007 period of current financial year 2007-08 over same period last year, despite strengthening currency.
Total exports touched an all -ime high of Rs 11,300 crore during the FY 2006-07, showing a growth of over 10% compared to previous financial year. The noteworthy trend during the four months period was the remarkable growth in export of yarn by nearly 65% and fibre by over 48%.Commenting on four months? performance, Sanjeev Saran, chairman, the Synthetic & Rayon Textiles Export Promotion Council (SRTPC), said: ?We have tempered the optimism as the orders for most of these exports were booked before the effect of the strengthening of rupee came into play. Hence, we will get a more realistic trend of our exports in the coming months for the rest of the year.? ?Strengthening of rupee value and the high cost of basic raw materials like yarn and fibre are the major concerns of the exporters,? he said. On the fibre front, India is already emerging a world leader. ?We are also comfortable in production of main raw materials like polyester, viscose, acrylic and their blends,? he said.
Man-made fibre textiles are increasingly dominating the global textiles scene. Countries in Middle-East continued to remain the main markets with share of 32% followed by European Union with 21%.