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Garments export soars by 25%

Oct 26, 2017
Garments export soars by 25%

After a 3-month declise in a row, ready-made garment (RMG) exports soared by 25 per cent in rupee terms and 30 per cent in dollar terms in September. But exporters say this will not be sustainable since government policies are not favourable.

RMG exports rose to Rs 10,707 crore in September 2017 from Rs 8,583.55 crore in the same month a year ago. In dollar terms, these figures were $1.662 billion as against $1.284 billion. Of the total RMG exports, 52 per cent is woven and 48 per cent is knitwear.

The sector started the year in April with 27.60 per cent growth in rupee terms and a 31.65 per cent increase in dollar terms. But in the following month growth (in rupee terms) was only 3.84 per cent. Exporters say that garment exports this year will surpass last year’s total exports of $17.358 billion as, generally, exports tend to grow in the second half.