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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