/Degree India’s textile exports are expected to reach US$100 million
A report by the International Rating Agency (ICRA) stated that driven by rising cotton prices and the expansion of the apparel market, India’s textile exports are expected to reach US$40 billion in the 2016/17 fiscal year, a year-on-year increase of 6%, but still the second consecutive year. The export target set by the government was US$50 billion. Data show that from April to May this year, India’s textile exports reached US$5.7 billion, a year-on-year decrease of nearly 6%, which was US$6.1 billion in the same period last year.
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