Home / Knowledge / News / Textiles / Unclaimed textile goods to cost exporters dearly
Unclaimed textile goods to cost exporters dearly
18
Mar '09
The textile and garment industry as a whole is going through depressing times due to a slowdown in orders. But one more matter of concern has arisen for these crisis ridden exporters, who are faced with a serious matter of unclaimed goods at different ports.

According to grave reports, emanating from the textile and garment exporters community, around 200 containers are lying unclaimed at different ports across all continents, due to the inability of the buyers to release the consignment due to financial problems.

Each container carries goods worth an estimated US $300,000 and the total worth of all the unclaimed containers tots up to an awesome $60 million. This whole amount has the potential to turn in to a loss if it lies unclaimed for long.

Total exports in the period July-January of the current fiscal (2008-09) from the textile and garment sector adds up to $5.82 billion, down 3.79 percent when compared with $6.05 billion recorded at the same time in the previous fiscal.

Shipments from the sector plunged by a massive 8.98 percent to $753.9 million in January 2009, when compared with $720.3 million achieved in December 2008. Export orders have also dipped by as much as 20-25 percent in the last few months.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

India's fashion market to touch $30 bn by 2020: Report

The fashion market in India is estimated at $70 billion in 2016, with ...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search