Textile exports are likely to touch $50 billion by 2010, Union Minister for Textiles Kanshiram Rana announced in Mumbai on Saturday.
"With the removal of the quota system in 2005, Indian textiles should get an edge, and I am sure exports will cross $50 billion by 2010."
The minister said that 1,928 applications with total project cost of Rs 15,158 crore (Rs 151.58 billion) have been received under the technology upgradation fund scheme till October 31. He added that Rs 5,739 crore (Rs 57.39 billion) have already been sanctioned for modernisation and upgradation.