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Garment exports slip 15.4 percent in first quarter

Category :India Sub Category :National,Business
2009-08-04 00:00:00
   Views : 448

It added that apparel made from other textiles also saw a decline of 5.5 percent in exports to $189 million during the period under review.

'Thus the erosion was spread across all categories,' AEPC chairman Rakesh Vaid said.

The Indian garment sector plunged into the crisis when the retail orders from advanced economies in North America and Europe declined following the economic slowdown that started last year.

In the $373 billion global clothing industry, India's share has fallen over the years from 3.3 percent to 2.6 percent.

To maintain the current share of 2.6 percent, India needs to export $18 billion worth of clothes annually which will require 2.7 million additional manpower and investments of $30 billion.




Author :Indo Asian News Service



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