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Related Keywords: Africa, be a little short of target, chase target set to double export in ten year, Commonwealth of Independent states, exporters face duties, FTA with European Union and US delayed, promote value addition, through bilateral agreement with Australia, to boost textile exports, union textile ministry, working new textiles policy

The Union textiles ministry through bilateral agreements with Australia, the Commonwealth of Independent States and Africa is trying chase target set to double textile exports in 10 years. The ministry is also working on a new textiles policy to promote value addition as free trade agreements (FTAs) with the European Union and the US are delayed.

Textile exports are unlikely to reach their 2015-16 target of $47.5 billion (Rs 3.17 lakh crore) because the figure was $32 billion (Rs 2.14 lakh crore) till December.

Related Keywords: consultation with industry stakeholders, export target to be missed, forging new FTAs, global markets, growth slowed down, Indian exporters facing turmoil, Indian textile and apparel exports, Ministry of Textiles, other ministires concerned, recommends corrective measures, to boost textile exports, TUFS, various internal and external factors

In the last few months, India’s textile and apparel exports growth have slowed down on account of various internal and external factors (textile and garment exports rose 0.6% to almost $18 billion in the first half of the current fiscal from a year before). The textile and garment exports target of $47.5 billion for 2015-16 with a projected growth rate of almost 14% from a year before is all set to be missed.