In­dia's ap­parel ex­port plum­mets (-) 17.78% in March 2018

Apparel Online - - Industry Live -

In­dia’s ap­parel ex­ports ob­served a mas­sive Y-o-Y (-) 17.78 per cent plunge in March 2018. Re­al­is­ing the crit­i­cal­ity, Ap­parel Ex­port Pro­mo­tion Coun­cil (AEPC) has raised con­cerns over the slug­gish­ness of ap­parel ex­ports in In­dia while other hubs such as Bangladesh and Viet­nam are en­joy­ing a con­sis­tent growth rate. The In­dian ap­parel in­dus­try gen­er­ated mere US $ 1.49 bil­lion (ap­prox.) in ex­port rev­enue in the month of March 2018 against the cor­re­spond­ing monath of Fe­bru­ary 2017 at US $ 1.81 bil­lion. In ru­pee terms, the as ex­ports for the month were Rs. 9,694.68 crore as against Rs. 11,946.37 crore in March 2017, down by 18.85 per cent.

Glob­ally, In­dia re­ported a 3.83 per cent de­cline in RMG ex­ports to

US $ 16.71 bil­lion in the pe­riod of April-March 2017-18 as com­pared to US $ 17.38 bil­lion in the same pe­riod of 2016-17. “The ex­port fig­ures for ap­par­els for the pe­riod April to March 2017-18 have shown a dras­tic de­cline of (-) 3.83 per cent and a steep de­cline of (-) 17.78 per cent for the month of March 2018 alone. These fig­ures clearly show that ap­parel ex­ports are not only stag­nat­ing, but are head­ing to­wards re­ces­sion,” main­tained HKL Magu, Chair­man, AEPC.

In­dia has al­ready wit­nessed a drop of (-) 4.7 per cent in ap­parel pro­duc­tion in the month of Fe­bru­ary 2018. This is the tenth straight month when the in­dus­try has reg­is­tered a de­cline in ap­parel man­u­fac­tur­ing.

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