India’s apparel exports dip

During the first nine months of the current year, Indian apparel exports have declined by (-) 0.08 per cent to $2,876.59 million as compared to $2,878.79 million in the corresponding period last year. In September particularly, India’s apparel export percentage to the US changed from positive to negative; till the end of August this year India’s growth (albeit marginal) was up 0.06 per cent. The categories most hit during the period were sweaters (negative 49.60 per cent), jackets and blazers (negative 10.10 per cent), ladies skirts (negative 21.47 per cent) and suits and ensembles (negative 11.75 per cent).

While India is battling hard to up its share in the textile and apparel market, Vietnam and Bangladesh are reaping a rich harvest in the global market. India’s exports to the European Union are also not doing well enough. In the first eight months of this year, Indian apparel exports saw a marginal growth of 0.33 per cent as against Vietnam and Bangladesh that registered a growth rate of 8.26 per cent and 6.88 per cent, respectively.