Apparel exports target for 2007-08 may be difficult to achieve
09 May '07
2 min read
Apparel sector, one of the key revenue earners for India, is facing diffuculty in reaching target set for 2007-08.
In his letter to A K Singh, Secretary (Textiles), Govt of India, Ministry of Textiles, Vijay Agarwal, Chairman, Apparel Export Promotion Council (AEPC), said that target for RMG exports has been increased by 27 percent, from US $9500 million in 2007 to $12065 million for 2007-08.
The Council has already revised downwards its estimates for 2006-07, given the developments in the last quarter of 2006-07. Hence the target for 2007-08 may be difficult to achieve.
The provisional figures of DGCI&S show that apparel exports were worth $6331.80 million during April-December 2006-07, as against $5996.05 million during April-December 2005-06, a growth of 6 percent. The picture is marginally better when compared to revised estimates for April-September 2006-07. As per revised estimates of DGCI&S (available till September 2006), exports may reach $8800 million, but will still fall short of the target for 2006-07.
Apparel exports had grown by 44 percent during January-March 2005-06. Based on similar expectations, the Council had earlier predicted apparel exports to reach $9500 million during April-March 2006-07. However, these expectations do not seem to have materialized. Apparel exports for 2006-07 may just touch the $9 billion mark.
Since data on our exports for the lastquarter is not available, data from US customs is being used to assess India's performance in this important market, constituting 35 percent of India's export basket, as also overall indicator. Exports to US during April–February 2006-07 have been worth $2810.48 million as compared to $2808.45 million during April–February 2005-06, a 0.07 percent increase. This is a significant drop in growth compared to around 30 percent growth registered in 2005-06.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
