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Indian apparel exports fall in october |
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Monday, 10 December 2012 : Releasing the export data for the month of October 2012 for the apparel exports in India, A Sakthivel, Chairman AEPC, stated that, “Apparel exports for the month of October 2012 were to the tune of 907 million dollars (Rs 4,912 crores) , with a decline of 0.75 per cent against the corresponding month of last financial year. In rupee terms, the exports have increased by 6.83 per cent in October 2012-13 over the same month of previous FY.”
Export in dollar terms for first seven months of the FY 2012-13 has declined by 9.1 per cent over the same period of previous FY and reached to 7,133 million dollars (Rs 38,635 crores).
However, in rupee terms, exports increased by 7.98 per cent compared to same period of last FY. In April-October 2012-13, in rupee terms, India’s apparel exports were to the tune of Rs 38,826 crores compared to Rs 35,956 crores in April-October 2011-12, he added.
Commenting on the decline in the exports Sakthivel said, “Buyers are not putting more orders due to the economic turbulence in their economy specifically in Western Europe, US and Canada.
Besides, the economic turbulence there is a stiff competition from Vietnam and Bangladesh in the US market and from Turkey in EU market, respectively. There is news that China is losing market share in these markets, but we need to focus to grab the market share lost from China. Moreover, increasing wage rates, hike in oil prices and input costs are other causes of worry as they dent profit of the exporters.”
On apparel imports in the United States, he informed, “US witnessed decline of 2.07 per cent in Jan-Sep. 2012 from the corresponding period of previous year and amounted to 59 billion dollars (Rs 3, 19,957 crores).
For the same period, US imports of apparel from India declined by 11 per cent. EU’s apparel import accounted for 64.3 billion dollars (Rs 3, 48, 698 crores) for the Jan-Sep. 2012 with a decline of 14 per cent over the same period of previous year.
India’s export to EU for the same period in 2012 amounted to 4.1 billion dollars (Rs 22,234 crores) with a decline of 23.6 per cent.”
Source : fashionunited.in
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