MUMBAI (Commoditiescontrol) - India’s textiles export target for 2015-16 has been fixed at $47.5 billion, up 14 percent from $41.6 Billion in 2014-15, Textiles Minister Santosh Kumar Gangwar announced.
He said the government is encouraging exports through Merchandise Exports from India Scheme (MEIS), which has recently been modified to include the markets of Bangladesh and Sri Lanka.
On technology upgradation in the sector, the minister said there is a budget provision of Rs 1,520.79 crore under Technology Upgradation Fund Scheme (TUFS) for 2015-16, of which Rs 437.58 crore have been released till date. Request has been made for increasing the outlay, he further added.
(By Commoditiescontrol Bureau; +91-22-40015534)