Staff Reporter | 09 May, 2008
India's textile exports might cross $40 billion in 2010-11, as against the government's target of $50 billion due to rupee appreciation, stated the Textiles Minister, ShankerSinh Vaghela.

The government targeted textile exports at $25 billion for the year 2008-09. The minister said that the target for the year ended March 31 was missed by 18% because of the rupee rise.

He said that the target of $50 billion might face problems but the level of $40 billion would be achieved.

He also said the rise in currency is good for country but added that it impacted the exporters, as they did not get the desired returns. The Indian rupee strengthened 8% against the US dollar during April 2007 and March 2008 period.