Business Standard

Don’t miss the latest developments in business and finance.

Garment exports up 24% in February

Bs_logoImage
Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 1:57 AM IST

India's apparel exports grew by about 24% to $1.1 billion in February 2011 -- the highest in this fiscal -- year-on-year, due to a strong demand from the US and European markets.

The exports stood at $938 million in 2009-10, according to the data provided by the Apparel Export Promotion Council (AEPC).

"There is a good demand for our exports in the US. There is an improvement in the European market as well," AEPC Chairman Premal Udani said.

The US and Europe together account for about 65% of India's total garment exports.

However, the apparel exports in the April-January period grew merely by 2.04% to $9.8 billion against the same period last year.

Exports started growing in August 2010 after witnessing deceleration in the initial months of the current fiscal.

More From This Section

Udani said Indian exports have become competitive, thanks partly to the government's restrictions on exports of cotton and cotton yarn which resulted in a check on the raw material prices.

During 2009-10, India's garments aggregated to $10.64 billion.

The garment industry employs about 7 million people in the country, out of which almost half are engaged in the export sector.

Also Read

First Published: Mar 31 2011 | 3:38 PM IST

Next Story