DIP 4.7% in Feb'13 Is Exported by India's Apparel

Garment exports from India registered US$ 1.22 billion in February this year, showing a decline of 4.7 percent compared to exports of US$ 1.28 billion made during the same month last year, according to the data from the Apparel Export Promotion Council (AEPC).   The decline in India’s apparel exports was mainly on account of slowdown in demand in the traditional export markets like the US and the EU, which together import around 60 percent of the country’s total textile exports.   During the first 11 months of the current financial year 2012-13, India exported clothing worth US$ 11.51 billion, down 7.6 percent as against exports of US$ 12.46 billion made during the corresponding period of previous fiscal.   Last fiscal, India’s garment exports increased by 17.9 percent year-on-year to US$ 13.7 billion.   In view of the current scenario, India’s apparel exporters are participating in various fairs and exploring new markets in African and Latin American countries.