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India to increase garments export to Russia

MOSCOW— With the export potential to the US and European Union reaching a saturation point, India will promote textiles and ready-made garments exports to Russia and Japan.

This was stated by Union Textile Minister Shankersinh Vaghela here who was on a tour to former Soviet republics of Kazakhstan, Uzbekistan and Moscow.

Vaghela, who will leave for Tokyo Tuesday night, also expressed concern at the decline in textile export to the former communist countries, mainly due to "logistics and cut-throat competition" posed by China.

"Two-thirds of our $20 billion textiles and ready made garments exports fall on the US and European Union and have reached a saturation point and we have decided to focus on promoting exports to Russia and Japan, with their large markets," Vaghela told reporters after his talks with representatives of Russian textile and garment industry. He said there was an "overwhelming response" from the Russian side.