After the abolition of quota in textile and clothing exports in international trade, India has registered growth of 21.8 percent in these sectors amounting to US $17.08 billion in 2005-2006.
EVKS Elangovan, Minister of State for textiles informed that the exports to USA and European Union had gone up by 26 and 18 percent respectively in 2005 accounting for two-third of India's total textiles and clothing export.
In the meantime, Central Government has approved 105 proposals for setting up of Special Economic Zones (SEZs) from 388 applications it has received so far.
Minister of State for Commerce Jairam Ramesh informed that the amount of revenues lost on tax front can not be estimated as it is impossible to comprehend the amount lost due to tax concessions.
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