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Govt scales up apparel exports target to $18 billion for FY 2012-13

23 Aug 2012 Evaluate

After the recent announcements in annual supplement of the Foreign Trade Policy (FTP), the Centre has revised the apparel exports target to $18 billion, about Rs 99,000 crore from $17 billion, about Rs 93,500 crore for the fiscal 2012-13. The market-linked focus product scheme for apparel exports to US and European Union also has been extended till the end of the current fiscal. Also, the sops included interest subvention on pre-shipment credit.

The US and Europe together account for over 65 per cent of the country's total textiles exports. During 2011-12, India’s apparel exports grew about 18% year-on-year to $13.6 billion, while the government has fixed a $40 billion target for the entire textiles sector in the current fiscal.

Minister of State for Textiles Panabaaka Lakshmi has confirmed that the government has recommended continuation of the Technology Upgradation Fund Scheme (TUFS) with an allocation of Rs 15,886 crore for the entire 12th Plan (2012-17), which is applicable for all the sectors including power-loom small scale industry.

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