OBSERVED THE RISE IN THE TEXTILE INDUSTRY OF INDIA
Textile Ministry of India has reported that the rate of growth in the textile industry reached 18.2% this year, compared with 3.2% last fiscal year. The growth in the sector of the yarn is - 5.5%, knitwear - 14.7%, and clothing - 7.1%. Textile sector in India is growing rapidly. Its share in total exports was 20% of revenues and 4% of the gross domestic product (GDP). At least one out of every six companies working in the textile sector.
The government has set a goal - to reach 20% of the growth of textile exports (up to U.S. $ 50 billion) by 2010. According to the Ministry of Commerce, textile exports in 2004/05 was down by 3.72% (up to 53996 Rs 56082 to Rs reached in 2003/4, respectively). However, in March and April of this year there was a moderate increase in production
