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Garment exports achieve 12% growthnews
Our Economy Bureau
13 November 2001

Mumbai: While the entire world was reeling under a recessionary phase last month, Indian garment manufacturers went about their business as if there was no demand constraint.

Defying the adverse impact of the 11 September terror attacks and the subsequent negative development on the textile industry, readymade garment exports moved up 12 per cent in volume terms and 11 per cent in value terms last month.

This was despite the fact that the readymade garment industry is heavily dependent on the American market, with almost 35 per cent of the countrys textile exports reaching American cities.

As per the data made available by the Apparel Export Promotion Council, export of readymade garments to quota-restricted countries during October amounted to 71.20 million pieces, up 11.60 per cent in comparison to the 63.80 million pieces exported in the corresponding period last year. In value terms, the exports amounted to $253.90 million, up 10.97 per cent in comparison to the $228.80 million achieved in the corresponding period last year.

Specific exports to the US, too, have done well. In October, 21.80 million pieces valued at $125.40 million were exported, up 37.97 per cent in quantity terms and 21.16 per cent in value terms in comparison to the figures achieved in the corresponding period last year. Exports to the EU rose 2.71 per cent in quantity terms and 3.11 per cent in value terms. Exports to Canada increased 5.26 per cent in quantity terms, but declined 2.33 per cent in value terms.

The Clothing Manufacturers Association of India feels the success came about largely due to personal and persistent efforts of the exporters, who overcame shortcomings despite severe adverse working conditions. It says the same trend may not be evident in the months to come as competition is hotting up, backed by incentives provided by governments of other countries to their garment manufacturers.

 

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Garment exports achieve 12% growth