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India's garment exports rise marginally in Feb
31
Mar '12
Apparel exports from India grew slightly by 1.5 percent year-on-year during February 2012, according to the figures released by the Apparel Export Promotion Council (AEPC).

India exported garments worth US$ 1.28 billion during the month of February, AEPC said.

The decline in India's clothing item export growth rate is due to a decrease in demand from the European markets.

During the first eleven months of the current fiscal year 2011-12, India's total apparel exports stood at US$ 12.1 billion, registering a growth of about 19 percent year-on-year.

Around 80 percent of India's total garment exports are destined towards the US and European markets, which are witnessing a slackening of demand due to financial crisis.

Hence, apparel exporters in India are currently exploring new markets like Australia, Japan and some countries of Africa and West Asia.

Experts feel that by being able to export more to new countries, Indian garment exporters can reduce their dependence on traditional markets like the US and Europe.

Fibre2fashion News Desk - India

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