Textile export at $20.5 bln in FY08, falls short of targeted $25 bln

Tuesday, April 22, 2008, 13:05 [IST]

New Delhi, Apr 22 (UNI) The steep rupee appreciation of last year has hit textile exporters earnings in rupee terms and has blunted their competitive edge in international market as the country's textile export stood at 20.5 billion dollars for FY08 as against the target of 25 billion dollars.

''The exports during the financial year 2007-08 stood at 20.5 billion dollars, which is 10 per cent more as compared to 2006-07,'' secretary, (Ministry of Textiles) A K Singh told reporters on the sidelines of a conference.

Minister of Textiles Shankersinh Vaghela said the situation was due to the rising rupee while the currencies of neighbouring countries had not rising as much in comparison.

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