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Synthetic
and rayon textiles export at all-time high
PTI
- Mumbai
India’s exports of synthetic and rayon textiles during 2000-2001
scaled to an all-time high of Rs 5,689 crore, registering a growth
of around 16 per cent as compared to the previous year’s figure.
Speaking at the 47th annual general meeting, Mr Sanjeev Saran, chairman
of the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC),
said here recently that the main markets for India’s synthetic
and rayon textile exports during the period were the United Arab
Emirates, United Kingdom, Turkey, Italy, the United States, Spain
and Saudi Arabia.
The share of European Union was as high as 31 per cent while that
of Middle East and Asia was around 27 per cent and 13 per cent respectively,
he said.
However, there was a fall in exports during 2001-2002 due to the
prevailing uncertain international situation and the result of worldwide
recession in the wake of last year’s terrorist attack on the
USA, he added.
The important domestic causes for fall in exports were frequent
changes in the government polices, including the stoppage of brand
rate of duty drawback for exports under the DEPB scheme since January
2001, disproportionate reduction of DEPB rate vis-a-vis customs
duty, reduction in the duty refund under the revised drawback schedule
and the procedural bottlenecks at various levels, Mr Saran said.
According to Mr Saran, the synthetic and rayon textiles industry
was facing many problems like high cost of production, high transportation
cost, high rate of interest on credit and poor infrastructural facilities.
The tariff and non-tariff barriers on synthetic and rayon textiles
in the target markets and the regional trade agreements entered
into by countries in key export destinations also adversely affected
the country’s export growth, he said.
Meanwhile, the council recently organised a meeting with members
of the high power committee on exim policy, Mr Saran said.
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