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Related Keywords: attain self sufficiency, automatic looms, boost fibre production, Coir sector, create more jobs, Kerala finance minister, meet needs, reviival package, second restructuring of the coir industry, semi-automatic looms, state budget, state imports fibre from other states, transform the cooperative societies into modern factories

Kerala finance minister TM Thomas Isaac in the state budget announced revival package for the coir sector will boost coconut fibre production, create more jobs and help in attaining self sufficiency. In his budget speech conveyed government intention of implementing a second restructuring of the coir industry as the state is importing fibre from other states to meet its needs, the schemes announced will boost fibre production and coir.

Related Keywords: coir exports in current fiscal, Coir sector, doubling export revenue in three years, enhance productivity, exceed the last years level, exploring Australian market, fetched export revenue, need to modernize the industry, penetrating into new overseas markets, recessionary trends in overseas markets, with value-added products

The coir sector has fetched an export revenue of ₹1,630 crore in the last fiscal against ₹1,476 crore achieved in the previous year despite recessionary trends in the overseas markets, it has not deterred coir exports from the country, as the sector continues to register a better performance in the last few consecutive years.

CP Radhakrishnan, the newly-appointed Chairman of the Coir Board said that it is expecting exports in the current fiscal to exceed the last year’s levels as it already crossed ₹1,382 crore as on January.