With the global demand on the rise, synthetic and rayon textiles industry has seen a 26.32 per cent jump in exports in April-September this year. This has come at a time when India’s exports have taken a severe beating this fiscal.

“Despite the continuous decline in exports in the textile industry, we are a bit lucky to see a sign of recovery, especially in value terms. Exports in man-made fibre textiles have gone up by 26.32 per cent to Rs 8808.06 crore in April-September 2009 from Rs 6972.59 crore in the same period last year,” said Ganesh Kumar Gupta, chairman, Synthetic & Rayon Textiles Export Promotion Council.

Hit by the slowdown last year, the council has been under tremendous pressure on the exports front. “Now exporters have already started recovering their lost momentum. Unfortunately, we had seen a negative growth as the total exports were at Rs 15,862.67 crore in the financial year 2008-09. We are hopeful that our exports would register a positive growth of around 25-30 per cent in rupee terms at the end of this financial year,” Gupta said.

Keeping the domestic demand and supply situation of synthetic and rayon textiles in view, the industry is hopeful that exports will grow to its expectations. “Domestic prices of cotton have been on the rise despite an increase in production expected this year. We have seen that the prices of cotton yarn have gone up 35-50 per cent for which the buyers have already started shifting from cotton to synthetic. So I feel this trend in demand will continue in future to give a boost to exports,” said Gupta.

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