Home / Knowledge / News / Apparel/Garments / 'Apparel exports to fall short by 24%' - Mr Vaid, AEPC
'Apparel exports to fall short by 24%' - Mr Vaid, AEPC
07
Jan '09
Mr Rakesh Vaid, Chairman, AEPC
Mr Rakesh Vaid, Chairman, AEPC
Apparel exports from India have fallen sharply since August 2008 due to declining sales in the United States and the European Union while those from Bangladesh, Indonesia and Vietnam are on an upswing.

Apparel Export Promotion Council (AEPC), today hosted a press conference to discuss the status of clothing industry in the face of global economic recession. The conference was presided over by chiefs of major industry associations like the Clothing Manufacturers Association of India (CMAI), Garment Exporters Association (GEA), Apparel Exporters and Manufacturers Association (AEMA) and Tirupur Exporters Association (TEA). Among those present were AEPC Chairman Rakesh Vaid, AEPC Executive committee member Hari Kapoor, CMAI President Rahul Mehta, GEA President G.S. Madan and TEA President A. Sakthivel.

All of them called for revisions in the current stimulus packages announced by the government. Fresh data from the Apparel Export Promotion Council (AEPC) shows that apparel exports plunged 11.29 per cent in November to 621 million dollars compared to 700 million dollars in the same period of 2007. Thus the period between April to November shows a decline of 0.2 per cent in exports compared to corresponding period of previous year.

"Apparel exports are likely to fall 24 per cent short of the 11.62 billion dollar target in the current financial year and may total up to 8.78 billion dollars," said Mr Vaid. In 07-08, the country exported garments worth 9.69 billion dollars, nine per cent more than in previous year.

“India is clearly losing its edge in global markets. The government and the industry must gear up to retain existing buying nations and explore fresh markets," he said. Mr Vaid said the global economic recession has led to customers like Steeve and Barry's along with Mervyns filing for bankruptcy. Buyers like Pacific Swimwear, Lane Bryant, Fashion Bug and Catherines have closed hundreds of stores due to sliding sales.

As a result, he added, nearly 500,000 Indian workers have already lost their livelihood in the apparel sector while more job losses are expected in the next three months. "Surveys conducted in export hubs of Gurgaon and Okhla here towards December-end show 84 per cent manufacturing units registered fall in export orders and employment in the range of 20 to 80 per cent," said Mr Vaid.

India's exports to the United States, which imported garments worth 85 billion dollars in calendar 2007, tumbled 11 per cent in rupee terms during October to December last year. But apparel exports to the United States from Vietnam jumped 35 per cent in dollar terms while those from Indonesia were up 8.44 per cent. Even exports from Bangladesh were up 6.6 per cent.

Similarly, India's garment exports to the European Union during January to August stagnated while those of China increased by 8.19 per cent, Vietnam by 9.85 per cent and Bangladesh by 3.01 per cent. Mr Vaid said India's exports and its market share globally are on the decline. Due to better policy support by other countries, India is losing its advantage.


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Urmil Arya

Sushila International, a well established textile organisation established ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search