Increasing exports augur well for textile sector, despite global meltdown

While releasing annual report of his ministry, India's textile minister Dayanidhi Maran in New Delhi on Wednesday said that Indian exports had registered an increase amid the global economic meltdown. Maran mentioned that the share of textile and clothing exports increased from 11.03 to 12.36 per cent over the past one year. Propelled by this unprecedented growth, the ministry has now directed exporters to adopt a 'Look East' policy, by expanding market base in Japan, Australia, South Africa and other Latin American and South Asian nations, the report has observed. Besides this, the ministry also updated its technological know-how, with the application of 'e-marketing' and latest machinery to boost textile production and distribution, he noted.