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Clothing exports post modest growth in 2010-11
22
Dec '10
In spite of the usual demand from the western markets, apparel exports from India had witnessed a moderate growth of 1.5 percent to US $728 million in October, this year thereby sustaining a positive growth trend.

India's apparel exports remained at $717 million in the same month during the previous year.

Though the apparel exports reflected downward trend in the initial few months of the current fiscal year, yet the rate of fall has minimized at present. The demand for apparel exports is likely to rise in the US as well as European markets. Around 80 percent of India's overall apparel exports go to US and European Union.

Garment exports showed a declining trend till July in the current fiscal year but it picked up again since August.

On the other hand, combined exports over the period between April to October totaled to $5.7 billion, which is 6 percent less as against the figure recorded during the same period last year.

The apparel sector extends jobs to nearly seven million people in India, of which nearly 3.5 million people are employed in the export sector.

An apparel export target of $12 billion has been decided for the fiscal year 2010-11.

Fibre2fashion News Desk - India


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