Expansions in apparel sector few & far between - CMAI
September 14, 2009 - India
News that France and Germany have registered positive growth rates has sent the apparel export manufacturing sector in to a tizzy. Many of these exporters are holding orders in hand to last them till end of December.
According to reports emanating from apparel manufacturing clusters like Tirupur, Bangalore and Ludhiana, a few clothing exporters have embarked on an expansion drive to seize opportunities once the recessionary trends blow over.
spoke exclusively to Mr Rahul Mehta, President, Clothing & Manufacturing Association of India (CMAI) who said, “I have also heard that a few exporters have gone in to an expansion mode again, but in my opinion, these are very few and far between”.
He added “Undoubtedly, we seem to be seeing the light at the end of the tunnel, and value customers such as Wal-Mart are definitely in a more buoyant mood, and their orders have started picking up”.
“However, the over all mood still remains cautious and it is too early yet to start celebrating a revival and for the majority of exporters, capacity expansion is still some time away”, he concluded by saying.