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Apparel makers rely on domestic markets
07
Sep '11
Concerns regarding the spreading debt crisis of US and EU have turned on an intense spotlight on the financial position of the countries. Economists predict these factors as telltale signs of the forth coming double dip recession. Though all businesses would be hit, if recession strikes again, textile and apparel sector would feel the heat more.

Export market for EU and US is currently seeing a slow down due to the much feared recession. This has resulted in a decline in exports by 16.3% during 2010-11. Prospects for the next year are not promising as well. Industry sources state that out of 2000 apparel makers based in Ludhiana, only 20 of them are planning to export for the current year.

On the contrary domestic demand is seeing an optimistic increase. Market is promising; growing at a stable rate. Indian apparel manufacturers are now focusing on the demand from affluent customers in the domestic market to make even out the margins.

Amidst all fears, Indian apparel exporters hold optimistic opinions. There may be job cuts, and fall in production and exports. Still they have a ray of hope that even if recession hits US, India might only witness a slowdown.

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Fibre2fashion News Desk - India

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