The Union Minister for Textiles, Mr Dayanidhi Maran, said on Wednesday that he is not very optimistic that textile exports will see any immediate growth, although the industry itself is positive.
According to the Apparel Export Promotion Council (AEPC), textile exports may see same growth or at least the same level as last year, said Mr Maran. He, however, said that he preferred to wait for the official figures, which are due soon.
The number of buyers has remained similar to last year at 600-700, he added.
Mr Maran added that although last September onwards there has been negative growth, the industry today feels excited with the high turnout at the India International Garment Fair ’09 organised by the AEPC.
“Even in the recessionary period, the council is happy to see such a turnout,” said Mr Maran.
“We have new countries like Argentina and Uruguay participating for the first time. There are 20 buyers from Japan as well,” said Mr Maran. “I feel our ‘Look East Policy’ is taking over, besides a focus on opening of new markets, particularly in Latin America, Africa and Oceania,” he said.
The Minister also compared the turnout of the fair to a similar one recently held in Hong Kong. “I am told that the fair in Hong Kong saw a 20 per cent drop in buyer turnout, unlike us.” This shows the kind of interest in apparel export from our country, he said.
According to Mr Maran, a team of 55 exporters are going to Japan next week. “We are hopeful that we can generate more interest there,” he said.
The Minister also said that the silk sector, whose exports amounted to Rs 3,500 crore in 2007-08, is expected to rise to Rs 7,000 crore by 2012.
The three-day fair saw participation from more than 200 garment manufacturers and exporters from Delhi, Gurgaon, Noida, Faridabad, Jaipur, Pushkar, Tirupur, Mumbai and Kolkata. Over 3,000 visitors from around 70 countries are expected to attend the event.
Moreover, around 300-400 serious buyers and buying agents are expected to visit the exhibition generating on-the-spot business of Rs 200-300 crore. Further, business of Rs 1,000 crore is believed to be generated in the short and medium term.
Source : Business Line