The exports of synthetic or man-made fibres from India are likely to grow to US$ 6 billion in financial year 2013-14, compared to exports of US$ 5.373 billion made in 2012-13, according to The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC).
 
Speaking at the Council’s 12th Annual General Meeting, SRTEPC chairman Rakesh Mehra said India’s man-made fibre exports have consistently grown over the last 10 years, but the last six quarters have registered negative growth due to slow global economic recovery.
 
However, synthetic fibre exports are now rebounding and are likely to reach US$ 6 billion in the current financial year, he added.
 
SRTEPC has urged the Government to revise drawback rates to about 7 percent from the existing 4 percent, to boost man-made fibre exports, Mr. Mehra said.
 
In addition, SRTEPC has revamped its Export Promotional Programmes for the year 2013-14, by targeting both traditional as well new and emerging markets.
 
In 2013-14, the Council proposes to organize exclusive Indian Textile Exhibitions (INTEXPOs) in Colombia, Ecuador, Peru, Burma, Pakistan, Ethiopia, Djibouti and Sudan and also participate in International Fairs in South Korea, Canada, China, Cambodia, Saudi Arabia and Mexico.