Textile Exports fell to USD 40 Billion in FY 2015-16
June 29, 2016
Textile exports from India has fell to USD 40 billion in FY 2015-16, as compared to USD 41.4 billion in FY 2014-15. Also, the textile exports are far below the target of USD 47.5 billion, set by the Ministry of Textile for the previous fiscal year. Despite this fall, Ministry is ambitious to achieve the target of USD 48.5 billion exports during the current financial year.
A special package of Rs. 6,000 crore has been approved by the Union Cabinet for the promotion of exports in textile and apparel sector. By this influx, Government is seeking to achieve additional textile exports of USD 30 billion and attract investment worth USD 11 billion in next three years.