Textile, apparel export declining: RBI study (Live mint.com 21th Jan 2008)The country’s total exports may be rising at around 20% but overseas sales of textile, apparel and handicrafts have declined during the first five months of this financial year, according to Reserve Bank data. “Exports of textile and textile products and handicrafts continued to register a declining trend,” RBI said in a study on India’s foreign trade 2007-08. There was a 3% decline in apparel and 16% fall in silk textile export in dollar terms, it said. Export of textile and products declined due to reduced off-take by major markets such as US, UK and Italy. The country’s exports to the US in April-October declined to 3.25 in value terms as compared to 6.8% in the corresponding period last year, while in quantity terms exports recorded a 1.9% growth, according to the US Department of Commerce, Office of Textiles and Apparel. The Prime Minister’s Economic Advisory has also pointed out that “absolute declines in ...
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