Textile Minister raises concern over rising input costs The Union Minister of Textiles Dr. K S Rao has raised concern on the macroeconomic risks facing the Indian economy which have increased during the last six months, mainly on the dimensions of sliding domestic growth, rising input cost and slowdown in manufacturing and employment generation. Current account deficit and its non-disruptive financing have emerged as major challenges. Need of the time is to accelerate manufacturing which in turn will spur growth and exports. Apparel exports industry is primarily a Small and Medium Enterprises (SME) sector contributing to 40 percent of our exports, 17 percent of our GDP and employs around 60 million people, said Rao in his address after inaugurating the 4th edition of Tex-Trends India-2014 in Pragati Maidan (ITPO) on Monday.
Posted on: Tue, 21 Jan 2014 05:43:44 +0000
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