Garment Exports Return to Positive Trend.

After lacklustre performance for four months, India's apparel exports returned to a growth trajectory expanding year-on-year by 2.5 per cent to $743 million in September helped by rising demand from the US.

The country's garments exports stood at $725 million in the same period last fiscal, according to data provided by the Apparel Export Promotion Council (AEPC).

"There are a good number of orders from the US market on account of the Christmas season," AEPC Chairman Premal Udani said.
However, demand from Europe is yet to pick up, he said.

The US and EU account for about 80 per cent of the country's total apparel exports, which aggregated $10.4 billion in the fiscal 2009-10.

After declining by 2.6 per cent in the previous fiscal, garment shipments showed a smart expansion of 14 per cent in the first month of 2010-11.

The sector faced problems again and got into downward spiral till July 2010-11. Following a flat performance in August, the apparel shipments returned to growth in September.

However, the April-September cumulative exports were $5.02 billion, down about seven per cent from the comparable period last year.

The apparel industry provides employment to about seven million people, of which almost half of them are engaged in the export sector.

The Textiles Ministry has set a $12 billion apparel export target for the current fiscal.

Source : centralchronicle.com