NEW DELHI: Apparel exports fell by close to 10 per cent in April this fiscal and exporters expect an equally disappointing data for May under impact of global downturn.
Garment exports from the country dropped to USD 800 million in April this fiscal from USD 886 million in the same month of 2007-08, according to official figures.
"We are expecting 10-15 per cent drop in apparel exports in May as well...there are very few orders from the US and EU markets," Apparel Export Promotion Council Chairman Rakesh Vaid told PTI.
Seeking fiscal stimulus in the Budget, Vaid said the Indian exporters face the double whammy of declining demand and competition from Vietnam, Cambodia and Bangladesh.
"We are losing out our competitive edge to neighbouring countries where exporters enjoy more incentives they managed to have a greater presence in the western markets," Vaid added.
Source : The Economic Times