The textile sector could witness a jump in exports this financial year due to the falling rupee. Textile exporters feel the depreciating rupee could lead to a 5 to 10 per cent rise in textile exports this fiscal after a bleak year in 2012-13. However, cotton textiles export declined by 10.4 per cent in the first quarter of this year against the same period last year. Wool exports declined by 7.5 per cent and silk exports plunged 8.6 per cent. 

Textile exports rose by a marginal 0.3 per cent in April-June this financial year compared to the same period last year. Readymade garments exports rose by 11.7 per cent. Readymade garments will drive the growth in other segments of textiles and hence overall textile export would be better this year.

However, exporters felt that not only the rupee, but several other factors contributed to a surge in textile exports. They feel there is a revival in the US demand for textiles and that the market is shifting to India from China due to higher cost of production there. The US contributes to 20 per cent of readymade garment and hence a rising demand in the US markets could be a bumper ride for textiles this year.