Textile Exports Record Growth In Nov09
SMEs in the Indian textile export sector can heave a sigh of relief as the export
growth is finally witnessing a positive trend after months of registering sluggish growth. The textile exports grew 8% in November 2009 as demand for products rose in the European markets as well as in the emerging markets such as Africa, Oceania and Latin American countries.SME textile exporters started receiving good orders over the last few months on account of Christmas and New Year. Demand for Indian textile products has also surged in the emerging markets, besides the traditional ones, said Ashish Maheshwari, proprietor of Sonu International, a small-sized garment exporting unit in Kolhapur, Maharashtra.
The growth in textile exports over the past few months is a good sign, indicating that global economies are reviving and a complete turnaround will happen soon.
Growth in textile exports in November can also be attributed to the relief packages extended by the government to small-scale exporters to counter recessionary pressures. Financial incentives and subsidies for export sector proved to be helpful, said Arvind Bajaj, proprietor of Sandhya garments, a small-sized apparel export unit in Surat.
Despite improvement witnessed in the European countries, Indias textile exports have not picked up in the US, which is a major market for Indian goods.
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