Textile exporters in India are a worried lot after failing to meet the export target for the last financial year, according to media reports.
"These declining trends in exports are a matter of deep concern," Texprocil chairman R K Dalmia said in a statement.
The 15 percent growth envisaged this year, can be achieved with 'timely support' from the government. It should include cotton textiles under three per cent interest subvention scheme, release funds for the technology upgradation fund scheme (TUFS), and recalibrate the product under the merchandise exports from India scheme. The delay in getting duty drawback amount has further aggravated the situation for the exporters, Dalmia said.
Apart from these measures, much needs to be done towards achieving the objective of "ease of doing business" and "simplification of procedures", he said.
He added that despite repeated representations exporters are yet to receive 2 per cent additional duty credit scrips under the MLFPS (market linked focus product scheme) which was announced in February 2014.
The withdrawal of focus market scheme for cotton yarns has caused steep decline in exports to non-conventional markets like Peru, Morocco etc, Dalmia said, adding that the delay in getting duty drawback amounts from JNPT customs has further aggravated the situation for exporters.
The country's overall exports of textiles and clothing stood at $41.4 billion in 2014-15 but fell short of the target of $45 billion.
In 2013-14, the exports of textiles and clothing stood at USD 39.31 billion against the export target of USD 43 billion.
While, exports of cotton textiles (including raw cotton) touched $11,353.15 million as against exports of $13,306 million in 2013-14, registering a steep decline of 14.68 per cent.
Exports of cotton textiles (excluding raw cotton) during 2014-15 was $9,452.96 million as against exports of $9,669.05 million in 2013-14, registering a negative growth of 2.23 per cent.
