Exports of man-made fibre textile exports are on a recovery path with fresh demadn seen from Europe and West Asia, according to the Synthetic & Rayon Textile Export Promotion Council. The worst is over and the Indian MMF textile exports could register a positive growth for this calendar year, said Mr Ganesh Kumar Gupta, Chairman of the council. For the period April-September 2009, MMF exports rose by 10 per cent in dollar and 26 percent in rupee terms vis-À-vis la st year. “The recovery in exports was mostly seen from the Middle East region, especially the United Arab Emirate, and Europe. The US markets however continue to remain comparatively weak,” said Mr Gupta. With Christmas and New Years sales coming up, the council expects a significant improvement in exports going forward. “With cotton yarn prices having increased significantly in the recent past, synthetic material prices are likely to go up”, Mr Gupta said. However, there is still a need for the Government to increase the duty drawback rates to boost Indian exports, he added.
Source : Business Line