INDIA: Exports Of Synthetic Textiles Slide Slightly
Uncertainty in international markets and the global economic downturn has been blamed for a five per cent slide in India's exports of synthetic and rayon textiles to Rs 20.27 billion between April and August.
The Synthetic and Rayon Textiles Export Promotion Council said on Wednesday the five per cent decline, compared to the year ago period, could also be attributed to domestic factors including the stopping of brand rate of duty draw back and a fall in duty refund.
The council added that the main markets for Indian synthetic and rayon exports were the European Union, which took 31 per cent, and the Middle East, which accounted for 26 per cent.
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