Apparel Exports Up By 49% To Rs 5,714 cr in May.

Apparel exports grew by 49% in May to Rs 5,714 crore compared to the corresponding month last fiscal mainly due to increase in demand in countries like the US, European Union and Canada, a top industry body today said.

Exports stood at Rs 3,839 crore in May 2010, according to data given by Apparel Export Promotion Council.

Apparel imports of the US showed a healthy growth in the first three months of this year.

Imports from India grew by 12.7% to USD 1,313 million January-April this year against USD 1,165 million in January-April last year, AEPC said in a release issued here.

India is one of the top six apparel suppliers in the US, it said.

For the first three months of 2011, India's export to EU went up by 25.9% to USD 2.6 billion, from USD 2.1 billion in the corresponding period last fiscal.

Similarly, Canada's imports of apparel from India from January to April accounted for USD 131 million compared to USD 103.1 million in the same period last year, an increase of 27.7%.

Source : moneycontrol.com