Textile exports may take a hit this quarter

There are concerns over the performance of textile exports in the current quarter on account of rupee appreciation, said a senior Textile Ministry official on Thursday. “While the first quarter performance was not badly hit…some segments were badly affected while other segments did well…we are worried about the current quarter performance,” he said.

On asked whether the sector would be able to achieve the export target of $25 billion set for the current fiscal, the official said, “We are trying are best.”

While speaking at a curtain raiser for the two-day TEX Summit 2007, to be organised in the Capital from Friday, the Minister for Textiles, Mr Shankarsinh Vaghela, said, “The issue of duty draw back for small textile players and other issues will be discussed in the summit.”

The sector is faced with faced with high transaction cost, lack of power and need for labour reforms. The summit will try to look into all these aspects with the participation of bureaucrats, industry representatives and other intelligentsia.

The Commerce and Industry Minister, Mr Kamal Nath, is scheduled to inaugurate the event.