Home / Knowledge / News / Apparel/Garments / Bleak future for apparel exporters, CIAe

Bleak future for apparel exporters, CIAe

21
Jan '08
Apparel exports recorded a decline of about 14 per cent in 2007 due to rupee appreciation and is expected to dip further by about 8 per cent in 2008.

India's biggest importer for the RMG sector is USA and with Recession looming large the repercussions are already being felt in the Apparel sector.

There is a 10% drop in exports form April – November 2007 in Rupee terms in USA alone as compared to a 18% growth from China.

Threat of American recession and competition from China, Vietnam and Bangladesh are expected to be the dominant concerns in 2008.

The cost of production is believed to be 20 per cent lower in these countries compared to India. In India, costs rise by 5 per cent per annum.

While India immediate threat has always been form its neighbors like Nepal, Bangladesh and Srilanka exports form these countries have been growing infact even countries like Indonesia and Vietnam which never posed a threat to India have now starting outperforming expectations.

According to Mr.Amit Goyal, President Confederation of Indian Apparel Exporters ( CIAe) this is only the beginning and if the Government does not seriously look into the plight of the exporters this Industry could be heading for Disaster'

According to Mr.Goyal even exports to EU have taken a beating where it is down by aprx 4% as most of the Volume business has gone to Bangladesh due to the Duty Free concession enjoyed by it and only the smalland quick turn around business is coming to India.


Must ReadView All

Pic: Shutterstock

Textiles | On 14th Apr 2021

Sri Lanka to ban fabric imports

Sri Lanka is all set to ban the import of textile fabrics in a bid to ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 14th Apr 2021

Bangladesh apparel exports dip 2.55% in July-March FY21

Readymade garment exports from Bangladesh declined by 2.55 per cent...

Pic: Shutterstock

Textiles | On 14th Apr 2021

US proposal for global minimum corporate tax finds takers in Europe

The idea of a global minimum corporate tax floated by the US has...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Farmers who produce seeds earn 50 per cent more

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Anupam Chakrabarty,

Anupam Chakrabarty

Headquartered in Finland, Helsinki, Lindström Group is a textile rental...

Vikram Juneja,

Vikram Juneja

Jaquard is a training institute providing a highly specialised training...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

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


April 2021

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


Advanced Search