Sunday, March 27, 2016

Indian apparel exports stable despite constrained global demands

Indian exports may have declined rapidly for the whole of 2015, owing to constrained global demands, yet most of the companies retained export market share even in the face of a global slowdown. 

Union Commerce Secretary Rita Teaotia spoke extensively on the Indian exports scenario at a recently held meeting with exporters and state government officials and concluded that Indian industries have managed to maintain or even increase their market share in some sectors, including textile and garments. 

Elaborating on the global scenario figuratively, Rita Teaotia said, “It is not just India that has seen fall in exports; China last month reported 25 per cent fall in exports. Europe, US, (in) all countries, the demand has contracted, this is the situation.” Specifically mentioning textile and garments sector, she said that exports in the sector in some markets continue to remain robust. 

According to industry experts, lack of adequate sops and overall dull market, apparel exports may miss the earlier target of US$ 17.25 billion in the country. However, apparel exports, worth $16.50-16.75 billion, is being anticipated. 

An Apparel Export Promotion Council (AEPC) official, on condition of anonymity, said, “The target may be missed due to several factors such as lack of adequate sops as well as international market conditions. For instance, the European market has not been so bullish as far as apparel exports from India are concerned.” 

Source: Apparel Resources

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