The Exports of Apparel Form India Shot up by 17.9 Percent

The exports of apparel form India shot up by 17.9 percent in the first five months of the ongoing financial year that began on April 1, 2014, according to the data from the Apparel Export Promotion Council (AEPC).

In April-August 2014, India’s readymade garment exports were to the tune of US$ 7.076 billion, up 17.9 percent compared to exports of $6.002 billion during the same period of the previous financial year, AEPC chairman Virender Uppal said at the 35th Annual General Meeting (AGM) of the Council.

In fiscal year 2013-14, India’s apparel exports increased by 15.7 percent year-on-year to $15.001 billion.

In August 2014, India’s clothing exports stood at $1.384 billion, showing a sharp increase of 23 percent against the corresponding month of last year.

In January-July 2014 (for which data is available) Indian apparel exports to the US increased by 5.62 percent year-on-year to $2.151 billion. Expect for Vietnam (13.85 percent) and India (5.62 percent), US garment imports saw decline from all major suppliers during the seven-month period over the corresponding period of last year.

During the first half of 2014, India’s clothing exports to the EU surged 16.33 percent year-on-year to $3.483 billion. During the period, EU’s total apparel imports increased at 12.63 percent year-on-year to $45.586 billion.

In June 2014, garments imports by EU were valued at $7.570 billion, registering an increase of 19.29 percent compared to the same month of the previous year. During the month, EU registered positive growth in apparel imports from all four top suppliers, with the highest import growth being registered by Bangladesh (33.07 percent), followed by India (27.17 percent).