European Market Demand Has Shrunk &Nbsp; India Textile And Clothing Are Difficult To Achieve.

2011-12 fiscal year, though

Nair, President of India India Textile Industry Federation, said that in 2011-12, India's textile and clothing exports could reach US $31 billion to US $32 billion, and the export target was only one step away due to the depreciation of the rupee.

In fiscal year 2010-11, exports of textiles and clothing in India amounted to US $26 billion 800 million.

In February, India's clothing exports increased by only 1.5% to $1 billion 280 million.

The government expects to expand exports in 2011-12, as demand seems to have recovered after the global financial turmoil in 2008, but the European debt crisis has erupted, and the crisis has reached export prospects.

In addition, the price of domestic yarn dropped when domestic textile factories bought cotton with the main raw materials at a high price.

They sell cotton yarn in the domestic market without profit. Because of weak demand and export restrictions, they can not export their products, resulting in huge losses.

The US market has picked up slightly, but the macroeconomic crisis lingering in Europe is still worrying. Europe is the largest market in India.

Although exporters are trying to promote sales to new markets to reduce risks, no major achievements have been made so far.

The European Union and the United States are the countries most affected by the current debt crisis. The two countries together account for about 65% of India's textile exports.

The textile industry accounts for about 14% of India's industrial production, accounting for more than 10% of the total export volume of the country.

It is the largest job creation industry after agriculture, with about 35 million employees in all sectors.