Synthetic textile exports up 48%

Exports of synthetic and rayon textiles increased by 48 per cent in September 2003. Cumulative exports from April to September of 2003-2004 grew 19 per cent at Rs 3757 crore, according to the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC).

Rakesh Mehta, chairman of the council, said the trend would persist in the rest of the fiscal. " The growth registered would fulfil targets fixed for MMF textile sector," he said.

Synthetic and rayon textiles were exported to more than 170 countries in the first six months of 2003-2004.

While 32 per cent went to west Asia, 23 per cent was sold in the European Union, 11 per cent in US and 9 per cent in African countries.

UAE imported goods worth Rs 553 crore, US Rs 303 crore, while Saudi Arabia bought Rs 252 crore and UK Rs 192 crore.

Turkey imported Rs 176 crore, Singapore Rs 145 crore, followed by Italy at Rs 129.35 crore, Spain at Rs 120 crore and Sri Lanka with Rs 113 crore, SREPC data indicated.

The council said exports to markets like Indonesia, Germany, Japan, Greece, Nepal, Afghanistan and New Zealand grew by over 100 per cent in the first half of the fiscal. Shipments to US rose about 83 per cent.