The Minister of
Textiles, Shri Kashiram Rana, has said that the comprehensive
textile package announced in the Budget proposals for 2003-04
would ensure revival and technological upgradation of the textile
industry. The budget proposals would bring down the cost of
textiles across the board making it more affordable to the consumers,
propel the demand and enthuse the manufacturing activities and
thus prepare the industry for global competition. Significant
measures were announced for the textile sector in the last three
successive Union Budgets, he added. Shri Rana was addressing
the CEOs of the Export Promotion Councils (EPC) under his Ministry.
Shri Rana later reviewed the performance of each EPC. He called
upon the Councils to make extra efforts for fuller realisation
of the export targets fixed for the year.
The Textile Ministry
had set an ambitious target of 15 billion US Dollars for the
year 2002-03. As per the latest available data, textile exports
during the period April-November 2002, have amounted to US $
7860 million, recording a growth of 11 per cent. The textile
exports which had registered a decline of 1.9 per cent in the
first quarter (April-June) recorded a resounding growth of 18.6
per cent in the second quarter (July-September). A still higher
growth of 20.1 per cent has been recorded in the month of November.
All the textile sub-sectors, with the exception of woollen textiles,
have recorded positive growth. There are firm indications that
the downtrend in textile exports has been reversed and textile
exports are back on the path of robust growth. While the latest
export trends are encouraging it would still fall short of the
target by about $ 2 billion.
The Minister said
significant measures had been taken to boost flow of investments
in garment and weaving sectors. He said that reduction in the
customs duty on shuttleless looms and other important textile
machinery items, reduction in cost of machinery through fiscal
duty measures, accelerated depreciation for machines covered
under TUFS (Technology Upgradation Fund Scheme) and dereservation
of woven garments from SSI (Small Scale Industries) would attract
investments for technological upgradation and expansion.
