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Garment exports post a 27% rise in FY06

24
Apr '06
India's garment exports have registered an increase of 27 percent with revenues worth $7 billion in 2005-06, compared to $5.5 billion achieved in 2004-05.

Quota system elimination in 2005 helped push exports to the US by 34 percent and European countries by 30 percent, said A Shaktivel, President, Tirupur Exporters' Association.

Tirupur knitwear export reached Rs 8,000 crore during review period (out of total Rs 13,000 crore all India exports) compared to Rs 6,000 crore in 2004-05, he said.

Increase of 27 percent was more than expected.

Saktivel said that a 30 percent increase has been targeted during this financial year.

Phasing out of quota has brought a marked shift in American market as there was a deflection of trade from China to India, he claimed.


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