Apparel Exports Facing Tough Challenges: AEPC Chairman.

The export market for apparel has been meeting tough challenges for the past three years. Earlier the recession had affected the market and last year the steep increase in the prices of synthetic and cotton yarn had hit exports hard. The export of apparel in financial year 2010-11 was $10.8 billion, which was flat compared to the previous financial year. In the year 2008-09 the recession was the reason for “zero export growth’ while earlier this segment used to grow between at 10-15 per cent per annum.

These were the remarks of Premal Udani, Chairman of the Apparel Export Promotion Council (AEPC), India. Udani had come to Ludhiana to dedicate a library to the exporters at AEPC’s regional office near Bhaibala Chowk.

This is the fourth such library in India which will help in fashion forecast, how to increase productivity in exports and much more. Talking about exports, Udani said, “Though we closed at $10.8 billion in the previous financial year, this year’s target is $12 billion. The raise is not much but looking at the problems in the export sector, we have made a minimal raise in the target.”

Source : indianexpress.com