New Delhi, July 08: India`s textile and clothing exports to the US have declined by over 14 per cent at USD 1.7 billion in the first four months of 2009 compared to the same
period in 2008 due to slump in demand.
India`s textile and clothing exports to the US declined
by 14.09 per cent at USD 1.78 billion in January-April 2009
compared to USD 2.07 billion in the same period last year,
Minister of State for Textiles Panabaaka Lakshmi said in a
written reply to a question in Rajya Sabha.
She said the government announced two stimulus packages
on December 7, 2008 and January 2, 2009 to boost India`s
exports, including textile.
The measures announced under these packages include
additional allocation of Rs 1,400 crore to clear the entire
backlog of Technology Upgradation Fund Scheme (TUFS), all
handicrafts to be included under Vishesh Krishi and Gram Udyog
Yojana and interest subvention of 2 per cent upto September,
2009.
Meanwhile, in the Budget 2009, the government extended
interest subvention scheme up to March 2010, besides
allocating funds worth Rs 3,140 crore under TUFS and Rs 397
crore for the Scheme for Integrated Textile Park (SITP).
Having grown by over 11 per cent in the first six months
of 2008-09, the textile exports started falling in October
ending the fiscal with overall decline of 10 per cent at USD
20 billion.
Bureau Report
