The Government is committed to help handloom exporters so that they can meet the challenges of globalization and modernization. Initiatives are being taken to solve problems in the area of production and supply of raw material and most importantly, marketing.
The Minister for Textiles, Shri Shankersinh Vaghela said this while presenting the 24th Handloom Export Promotion Awards for the year 2003-04 and 2004-05 in New Delhi.
Underline the Government's priority to the handloom sector, Shri Vaghela said the handloom fabric production which has declined in the last three to four years has started showing upward trades from 2004-05 onwards with an increase of 4.16 percent over the previous year and in the year 2005-06, the production has gone up to 6188 million sq. meters., which is an increase of 8.14 percent over the previous year and the foreign investment inflows increased over three times from USD 5 billion in the financial year 2000 to USD 17 billion in the financial year 2006, he added.
Shri Vaghela said that Indian Textile Industry has been a major beneficiaries in the post – MFA regime. He said India's exports to USA have grown up by 26 percent and to European Union by 20 % during this period and these markets now account for 38% and 36% of our textiles exports, respectively.
Shri Vaghela said that export performance of made up textile articles in 2005-06 was impressive with an annual growth of 25.6 percent to US$ 2 billion.
Expressing the hope that the home textiles segmented expected to grow from US$ 2 billion to US$ 10 billion by 2010, Shri Vaghela said that handloom exporters can look forward to better future. Indian companies dealing in Home Textiles are expanding their capacities to capture a greater market share in this segment, he added.
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