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Garment exports pick pace
19
Aug '10
There has been a surge in the garment exports from the country, as it grew by over 11 percent in July, over the previous month, but in spite of this, industry sources say that the country's key export industry has not entirely recuperated from the effects of the global slump.

As revealed by the Ministry of Commerce's statistics, garment and textile exports have gone up by 11.51 percent to US $298 million in the month of July as over the previous month.

Ministry of Commerce's Secretary of State, Ok Boung here said that, though there were indications of recovery of the garment sector, but still, exports still have not succeeded in touching the pre-crisis levels.

He said that, there are several competitors in the market, and the main challenge is to role out clothing at competitive prices.

Export data reveals that, shipments to the US increased 9 percent to $953 million during the first seven months, up from $871 million from the same time last year.

Also the figures speak of a 12 percent increase in the country's garment exports to the European Union which stood at $405 million. As also its exports to other foreign countries grew by 16 percent at $236 million.

Fibre2fashion News Desk - India


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