India’s overall exports of textiles and clothing in the financial year 2015-16 may stand at $40 billion, similar to the level a year ago. Textile Commissioner Kavita Gupta has said that to overcome global slowdown, the Textile Ministry will give full support to the industry.
Gupta further said that “We see slowdown in China as an opportunity and not as a challenge for Indian textile exports. The country needs to act fast in grabbing opportunity and need to promote every segment as it is loosing out to Bangladesh and Vietnam.”
Gupta said that with 13 per cent share, technical textiles are emerging as a sunrise sector. She further added that the technical textiles industry is projected to grow at 20 percent year-on-year and the segment's potential is largely untapped in the country. In the fiscal year 2014-15, the country's overall exports of textiles and clothing stood at $41.4 billion and $39.31 billion in 2013-14.