Things have started looking up for the industry after a tough 2011 when there was huge
volatility in textile demand across the world. According to the Confederation of Indian
Textile Industry, registration for yarn exports rose 17.8% in May on renewed demand from
North America and Western Europe, besides fresh demand from Latin America and some
Southeast Asian countries.
According to US government figures, their overall textile import rose 3% in January-April
this year, with the nonapparel recording 19.5% year-on-year growth to $916 million in this
period. The US market takes 35% of India's annual textile exports, worth $8-9 billion. Western
Europe accounts for another 25-30%. So, signs of revival in demand from these traditional
markets are significant for Indian exporters. Indian textile companies are also increasingly
tapping info new high-potential markets such as Latin America, Africa and West Asia. All
these give the industry confidence to meet the government's enhanced export target of
$40.5 billionin 2012-13, up from $33 billion achieved last fiscal.