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Indian govt apparel export figures incorrect: Expert
06 Jun '12
2 min read
The garment export figures released recently by the Directorate General of Commercial Intelligence and Statistics (DGCI&S) do not give the correct picture of the situation, according to an expert.
India exported garments worth Rs. 656.51 billion during last fiscal, which ended on March 31, 2012, showing a huge 24 percent growth over apparel exports worth Rs. 529.17 billion achieved during fiscal 2010-11, according to DGCI&S.
However, there have been recessionary trends in the US and Euro zone, increase in bank interest rates, rise in labour and freight costs, etc. that might have affected clothing exports during the year.
“The market is not as vibrant as the DGCI&S apparel export figures portray,” Mr. Rakesh Vaid, former Chairman of Apparel Export Promotion Council (AEPC) and also an apparel exporter, told fibre2fashion.
“In the past, too, DGCI&S has released certain export figures and then revised the same,” informs Mr. Vaid.
“Statistics help us a lot in knowing the exact strength of the market, which categories of goods are in demand and in which countries, etc. So, the DGCI&S needs to be more accurate in collecting and disseminating the data. At the time of export, the Customs Department should also enter proper figures,” he says.
“Moreover, there is no centralized system for reporting the data. Hence, there can be discrepancies. For example, sometimes the apparel category can be listed in textiles and vice versa. So, these kinds of discrepancies do take place,” he adds.
India exported garments worth Rs. 656.51 billion during last fiscal, which ended on March 31, 2012, showing a huge 24 percent growth over apparel exports worth Rs. 529.17 billion achieved during fiscal 2010-11, according to DGCI&S.
However, there have been recessionary trends in the US and Euro zone, increase in bank interest rates, rise in labour and freight costs, etc. that might have affected clothing exports during the year.
“The market is not as vibrant as the DGCI&S apparel export figures portray,” Mr. Rakesh Vaid, former Chairman of Apparel Export Promotion Council (AEPC) and also an apparel exporter, told fibre2fashion.
“In the past, too, DGCI&S has released certain export figures and then revised the same,” informs Mr. Vaid.
“Statistics help us a lot in knowing the exact strength of the market, which categories of goods are in demand and in which countries, etc. So, the DGCI&S needs to be more accurate in collecting and disseminating the data. At the time of export, the Customs Department should also enter proper figures,” he says.
“Moreover, there is no centralized system for reporting the data. Hence, there can be discrepancies. For example, sometimes the apparel category can be listed in textiles and vice versa. So, these kinds of discrepancies do take place,” he adds.
Fibre2fashion News Desk - India
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