Textiles and apparel exports dropped by nearly Rs 8,000 crore to Rs 2,30,056 crore in 2017-18 owing to competition from emerging economies like Bangladesh and Sri Lanka which enjoy preferential duty access in key markets, the government said on Wednesday.
The country’s textiles and apparel exports stood at Rs 2,37,922 crore in 2016-17, Minister of State for Textiles Ajay Tamta said in a written reply to the Rajya Sabha.
Replying to another query, the minister said that during the current cotton season (October 2017 to September 2018), shipments of cotton from the country are expected to touch 70 lakh bales, registering a 20 per cent increase over the previous season.
According to Tamta, while 51.2 lakh bales have been exported up to April 30, 2018, no target as such has been set for cotton exports.
Besides, he said there is no proposal to frame a separate policy for export of cotton, as its shipments are dependent on various factors including demand and supply conditions and the ruling domestic prices vis-a-vis international prices.