Wool & Woollens Export Promotion Council (WWEPC) today said it will surpass woollen products target of USD 500 million for current fiscal on the back of spurt in demand for woollen items from Europe and the US.
"We will certainly attain our woollen exports target of USD 500 million for 2013-14 as we have seen demand for wool products reemerging from European countries as well as USA," WWEPC Chairman Ashok Jaidka said here.
He, however, said the growth over and above the target could be about 1 to 2 per cent in exports.
"Wool exporters this year participated in a number of exhibitions in various countries and got good number of orders from UK, France, Italy and USA," he said.
Woollen items' exports during April 2013 till January 2014 grew by 2 per cent in dollar terms and 13 per cent in rupee terms.
Total exports jumped to USD 358.31 million (Rs 2,172.13 crore) during April 2013 till January 2014 from USD 351.63 million (Rs 1,921.24 crore) in corresponding period of last fiscal, said a WWEPC official.
"We are sure that the remaining USD 150 million exports can be achieved in February and March," Jaidka said.
The target for country's woollen exports was cut down to USD 500 million for current fiscal as exports target of USD 750 million for 2012-13 could not be achieved because of sluggish demand for wool items.
During last fiscal, wool exports stood at USD 417.26 million.
