New Delhi : After contracting for more than a year, India's export of textiles grew by 8 percent in November as demand picked up in European countries.
"In November, our (textiles) exports increased by about 7-8 percent the growth is mainly because of revival in demand in some European countries," Textiles Secretary Rita Menon said.
Demand also picked up in the new markets (identified in the Foreign Trade Policy 2009-14) in Africa, Latin America and Oceania, Menon said.
The US and European markets account for 30-35 percent of textile exports from India.
"Demand for Indian textiles in the US was also going up but not substantially," she added.
After growing by over 11 percent in the first six months of 2008-09, exports started falling in October and ended the fiscal with an overall decline of 10 percent at $20 billion.
India's merchandise exports are on decline since October 2008 in wake of the global demand slowdown. But the exports have started moving up and the outward shipments grew by 18 percent in November mainly because of low base.
Meanwhile, the Textiles Ministry would hold series of exhibitions of handloom products in major cities like Delhi and Chennai from Monday.
Former captain of Indian cricket team and Member of Parliament Mohd Azharuddin and Bollywood actress Shabana Azmi besides other personalities would walk the ramp in Delhi to promote handloom items, Menon said.
Source : zeenews.com