Union Minister Piyush Goyal said on Saturday that the country’s textile exports are showing signs of growth. Earlier, due to foreign exchange crisis in many countries and huge stock accumulation due to Russia-Ukraine war, the industry had to face many problems. The Textiles Minister hoped that the export of cotton and yarn would resume from April.

He said, “There are two problems in textile exports. Many countries are struggling with the problem of foreign exchange after the Ukraine war, due to which they have cut down on non-essential imports. Giving example, he said that Egypt does not have foreign currency for payment. In such a situation, the goods sent from India in 100 containers have been returned.

Further, he said that many countries are not accepting non-essential items imported from outside. The Union Minister said that apart from this, a large consignment accumulated during the Kovid epidemic. He said that inflation increased due to Ukraine war. People reduced purchases due to inflation and stressed economies.