User talk:Surattextilehub

At present, the Indian apparel and textile sector is struggling to survive because of increasing costs of raw material, poor off take of yarns coupled with the poor realization from yarn dealers and a sharp rise in interest rate and, the worse, the rising value of the Indian rupee. As the industry is aiming an export turnover of $50 billion by 2010, amounting to more than US$ 100 billion including that for domestic consumption, it is imperative that the country leverages its underlying advantages and builds capabilities to place itself as a complete solution provider rather than only a manufacturer. The increasing value of Indian rupee is hitting exporters, with India's textile exports to USA taking a plunge in value terms even though volumes have soared during the period Jan-Apr 2007. During the period April-Jan 2007, exports of apparel and textile products to US declined by 0.43% in value terms though export volumes increased by 7.49% as compared to the corresponding period in the earlier year. The textile exporting community of the country is looking to reduce dependency on the US market and is focusing towards the European market for attaining further growth and to fight currency pressure. This is because of the fact that even though the rupee strengthens itself to Rs. 39.54 against the dollar, the Euro-rupee equation is comparatively at a higher exchange price of Rs. 56.