Addressing the 45the annual general meeting chairman of Synthetic and Rayon Textiles Export Promotion Council (Srtepc) GK Gupta pointed out that the Indian exporters would have to face challenging times ahead in view of the regional trade blocks, protectionists trade policies, quota restrictions and tough competetion from new entrants.

During the meting he called upon the Indian exporters to upgrade their technology, modernise plants, keep abreast of the latest trends and produce sophisticated and value added products in order to remain competitive and successful.

He stressed the need to focus on long term goals with clear cut strategies instead of resorting to inter-se competetion, which may be profitable in the short run but would be disastrous in the long term.

Gupta warned the members that the textile scene was changing fast and the distinction between domestic and overseas markets was getting blurred with globalisation and liberalisation gaining ground.

He stated that to compete and survive, exporters would have to be technology savy. In this regard he urged exporters to take advantage of Technology Upgradation Fund scheme to modernise plants and ensure competitive performance and increase in profitability.

Dwelling on current export scenario Gupta pointed out that the Indian export growth during the first five months of the current year (April- August 1999) was over 5 per cent at Rs 1,819 crore compared to the similar period of last year.

He admitted that the percentage growth of exports was less than anticipated but expressed hope that exports would register a smart recovery in the coming months and acheive the target of Rs 4687 crores set for the current fiscal.

Gupta said that the textile trade, especially synthetics was entering a critical phase and sought the help of political leadership, officials and exporters to take exports to greater heights.

He lauded the various export assistance schemes of the government, which ahve helped exporters in boosting trade but also pointed out various deficiencies and problems at the grass route level. He drew attention to one of the major greivance namely denial of refund of yarn stage duty ever since the authorities changed the excise duty structure from ad valorem to compounded levy on stenter basis from 16th December 1998.

He added that despite several representations the matter has not been resolved. He also expressed concern about complaints being received from exporters regarding procedural delays in the grant of licences, DEPB benefits, refund of rebate on exports etc.