After the elimination of textile quotas since January 2005, exports have recorded a rapid growth, with industry estimate for 2006-2007 period soaring up to Rs81,616 crore, which is much higher than Rs75,621 and Rs63,024 crore during last year and 2004-2005 period, respectively.
Foreign investments are also mounting and expected to reach Rs33,000 crore this year, of which Rs25,000 crore will be generated through TUFS.
Ministry estimates the figure to touch Rs140,000 crore mark by 2010.
India has emerged as the second top gainer, next to only China.
However, there is still a vast difference in value terms between exports from China and India. China clocked US $120 billion in export of textiles and clothing in 2005, while India earned a mere $17 billion that year.
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