India’s cumulative readymade garment exports in April-May 2015-16 were to the tune of $3.012 billion, showing an increase of 7 per cent compared to the exports of $2.814 billion in the same period of previous financial year, the Apparel Export Promotion Council (AEPC) said in a press release.
The 7 per cent growth registered by the apparel sector in April-May 2015-16 has come at a time when there is nearly 20 per cent deceleration in India’s overall exports.
India’s apparel exports were $1.568 billion in May 2015, up 5.1 per cent over May 2015 exports of $1.492 billion, the release said. In FY 2014-15, India’s clothing exports had increased by 12.3 per cent over the same period of the previous fiscal to $16.846 billion.
Garment exports from India have achieved a compound annual growth rate (CAGR) of 8.1 per cent during post quota period (2005-14), and if exports continue to grow at this rate, they can touch $24.9 billion by 2019-20, AEPC chairman Virender Uppal said in the statement. (RKS)
