New York, Aug 31 (Inditop.com) India’s exports to the US can increase by $1.5-billion if it made an effort to bail out the ailing textiles sector, according to Textiles Minister Dayanidhi Maran, now on an official visit to the US.
“My visit will help exporters grab a large chunk of the market, which is expected to rebound by 2010 and 2011,” Maran said Sunday while inaugurating the India Pavilion at “Sourcing Magic” fair in Las Vegas.
The minister said that after the quota phaseout in 2004, garment exports to the US stood at $2.68 billion till June this year, compared to $2.76 billion in the first six months in 2008.
Maran is currently leading a delegation comprising officials from his ministry and trade councils such as the Apparel Export Promotion Council, Cotton Textile Export Promotion Council and Synthetic and Rayon Textiles Export Promotion Council.
Approximately 31 percent of India’s textiles and garments exports are to the US, which constitute about four percent of America’s garment imports.
“Between January-June 2009, the total textiles import by US was $37.54 billion, of which apparels were $28.9 billion, and India’s total export of textiles and clothing in the same period was $2.43 billion, of which apparel is $1.59 billion,” Maran said.