It's been a cheerful Christmas season for Indian garment exporters as their November demand, after a dismal show in October, surged 6 per cent riding on festive shopping.
Following a 17 per cent dip to $603 million in October, the November apparel shipments were up 6 per cent to $726.9 million compared to the year-ago period.
And the party continues, with orders still pouring in even as the celebrations are about to peak, Apparel Export Promotion Council (AEPC) Chairman Rakesh Vaid said.
"Discounts in retail stores in the US and Europe, during this period, have led to more demand for our products," he added.
However, because of poor showing in the previous months of the fiscal, the April-November figures still show a negative trend of 7.07 per cent at $6.1 billion.
The US and EU together account for 70 per cent of India's garment exports.
Source : Business Standard