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China's loss is India's gain
May 03, 2003 17:06 IST
With SARS (Severe Acute Respiratory Syndrome) epidemic taking its toll on China's textile exports, India is all set to grab the opportunity to increase its share of global market, mainly in the US and the European countries, Union Textile Minister Kashiram Rana said on Saturday.
"India has been largely benefited, following widespread non-acceptance of fabric manufactured in China and Hong Kong by the US and European countries", Rana told a press conference in Ahmedabad.
The demand for 'Indian-made fabric' has increased to such an extent that it is more than the permitted quota of exports under the 'multi-fibre agreement', Rana said.
A group of textile industry representatives and government officials will be in Brussels on May four and five to make a case for 'increasing the prevailing permitted quota' of exports to the European Union, he added.
"Our target of export for the current fiscal is set at Rs 1,600 crore (Rs 16 billion), but considering the large demand, it is expected that the country will export fabric worth Rs 1,800-1,900 crore (Rs 18-19 billion)", Rana said.
"We will grab all the opportunity to spread the Indian market globally."
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Sub: India's gain
Isn't it a sadistic attitude of gloating on China's woes?But what else can we do?We have reached the absolute depths of corruption,mediocrity and utter callousness.We ...
Posted by Gautam Mookerjee
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