KS Rao targets exports of USD 50 billion in the current fiscal

Dyeing, Printing, Processing

KS Rao targets exports of USD 50 billion in the current fiscal

In the recent cabinet reshuffle, Kavuri Sambasiva Rao has been sworn in as the Union minister for Textiles . The 69-year old businessman-turned-politician is a strong advocate of united Andhra and Lok Sabha member from Eluru constituency of Andhra Pradesh.

The newly appointed minister expressed his concern over the current account deficit affecting the nation’s economy.He highlighted that textile sector is the sole area where exports can increase substantially. The current export in textile is about USD 34 billion, which he plans to make USD 50 billion by the end of the current fiscal.

He suggested some proposition to achieve desired target as in skill development and to speak up to all industrialists in particular to find out the root problem, ways the government can support in skill development and to boost the exports.Rao also assured that ministry will resolve whatever it takes to provide employment in poor sections of the society, increase the exports in big way and do justice to cotton cultivators as well as the handloom weavers.

Talking about cotton prices, the minister said: "Cotton grower claims that they do not get remunerative price for their produce. So, I wish to concentrate on how to increase output per acre and ensure that whenever cotton crop is in substantial quantity, farmers should be permitted to export before it goes in the hands of the traders."

Stressing on the fact the skill development is paramount, Rao said that when there are skills with the people of the country, the growth will go up, the production will go up, the cost of production will come down, and then we will be able to compete in the international market.