Indian textile exporters are seeking to widen their market in Bangladesh's garment industry by capturing the potential for fabric export, reports YarnsandFibers.

In a memorandum to the new central Textile Minister Smriti Irani, the Indian Texpreneurs Federation urged the government to fix export targets for each segment of the textile value chain so that industry can increase the scope of export.

Currently, India has over 60 per cent market share in yarn exports to Bangladesh and just 12 per cent share in fabric exports. The association wants India government to look at capturing the potential for fabric too, as Bangladesh is reducing import of yarn and purchasing more fabric.

Texpreneurs said that, segment-wise targets will help the industry and the Government identify areas with scope for increase in exports.

Markets such as Russia had huge prospects for the Indian textile industry. While Russia imports Rs. 65,000 crore worth textiles, Indian exports just Rs. 500 crore worth textiles to Russia. In the last two months, cotton prices in the country have shot up by 35 per cent and this has hit the entire textile chain.

The ministry needs to focus on export trade growth and co-ordinate with the industry for this, exporters said.