Home / Knowledge / News / Apparel/Garments / India's apparel exports to see flat growth: report

India's apparel exports to see flat growth: report

03
Apr '19
India
India's apparel exports, expected to grow steadily, maintaining a compound annual growth rate of 12.06 per cent to hit $82 billion by 2020-21, are expected to remain flat during this fiscal and the first half of next year due to a decline in overseas demand, primarily in the United Arab Emirates (UAE), says a report by US-based trade finance company Drip Capital.

The overall market demand is pessimistic and exports have been declining in the key export markets, the report, titled 'Commodity Insights Apparel', said.

UAE markets witnessed a sharp decline in imports, necessitating Indian exporters to shift to new import markets, a news agency reported citing the document.

The problem is compounded by rising competition from nations like Cambodia and Bangladesh, that enjoy low labour costs that India cannot compete with.

Incentives for upgrading technology, market diversification, and innovation are good starting points to help India's apparel exports regain their upward growth, Drip Capital co-founder and co-chief executive officer Pushkar Mukewar said.

As India cannot compete on lowering labour costs, the focus should be on expanding schemes for technology upgrades, he added.

Four new markets show high potential for future growth: the United Kingdom, Chile, Israel and Japan, says the report. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Retail | On 9th Jul 2020

UK unveils 2nd part of 3-phase plan for economic recovery

Chancellor of the exchequer Rishi Sunak recently announced a slew of...

Pic: lentamart / Shutterstock.com

Apparel/Garments | On 9th Jul 2020

Brooks Brothers files Chapter 11 bankruptcy proceedings

Brooks Brothers, America's oldest apparel company, recently announced ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 9th Jul 2020

Bangladesh apparel exports down 18.12% in FY20

Readymade garment exports from Bangladesh decreased by 18.12 per cent ...

Interviews View All

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Manuj Terapanthi, Texaura

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Rushiraj Mulani,

Rushiraj Mulani

The Shradhdha Group of companies was established in 2010 and is based out...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

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


July 2020

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


Advanced Search