INDIA: Synthetic, Rayon Textiles Record Exports

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, Sanjeev Saran, chairman of the Synthetic & Rayon Textiles Export Promotion Council, said here on Monday that the main marekts 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, Saran said.

January 8, 2002

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Added: January 8, 2002
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