In 2011, India's textile exports are expected to reach 55 billion U.S. dollars
The Indian Institute of Engineers held a two-day National Textile Engineers Conference and a seminar on international quality standards and implementation of the National Textile and Apparel Industry on February 21. Indian textile experts expect that although the rupee appreciates against the US dollar, by the end of the 11th Five-Year Plan, Indian textile exports are expected to reach 55 billion US dollars. Engineers Society expert G Sreekanth predicts that the export of textiles and garments in the first year of the 11th Five-Year Plan will be USD 24 billion, and will gradually increase by 20% in the future. It reached 55 billion US dollars in 2011-2012. He said that more than 700 representatives from across the country attended the conference, including more than 300 representatives from the textile and garment industry. The conference will discuss the issue of the textile industry facing the appreciation of the rupee against the US dollar and how to deal with fierce competition from China, Pakistan, Bangladesh, Vietnam, Thailand, Brazil, Sri Lanka and Indonesia. He said that due to the globalization of trade, major changes have taken place in the textile and apparel industry. Every company is striving to produce high-quality and inexpensive products.