Wearing apparel production growth at 9-year high in FY’14

News Tags: apparel production in india, garment export from Bangladesh, garment export from china, Garment export from india, Industrial production in india

Mumbai
apparel production growth graph
Summary: 
While manufacturing sector has been on the slump for the past three years, wearing apparel segment is growing in opposite direction. It not only clocked the highest growth in fiscal 2013-14 amongst the 22 industry groups that comprises the manufacturing sector, but also at a nine-year high.

While manufacturing sector has been on the slump for the past three years, wearing apparel segment is growing in opposite direction. It not only clocked the highest growth in fiscal 2013-14 amongst the 22 industry groups that comprises the manufacturing sector, but also at a nine-year high.

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Garment exporters in China and Bangladesh fear India taking over

News Tags: AEPC, Apparel Export Promotion Council, garment export from Bangladesh, garment export from china, Garment export from india, labour cost in china, Premal Udani

Mumbai
Summary: 
Garment exports from India of late are being driven by demand from major textile importing regions such as the US and Euro zone. This has adversely impacted garment exports from neighbouring countries like China and Bangladesh as India is seen to be eating into the market share. Although the advantage does not appear from the Indian side apart from the falling rupee, China’s high labour costs have been working in India's favor. Also, the yuan has risen against the dollar, and this has reduced its competitive edge. In September, Bangladesh saw a protest by labourers, who demanded higher wages. Also, the collapse of Rana Plaza, a huge garment factory in Bangladesh on 24 April 2013, has caused concern on safety and working conditions in that country. According to data from the Apparel Export Promotion Council (AEPC), India's garment exports to the European Union increased 5.9 per cent year-on-year in the first six months of 2013, while those of China and Bangladesh declined 9.7 per cent and 1.8 per cent year-on-year, respectively. In September alone, apparel exports from India rose 14.95 per cent to US$1.11 billion. In the first half of this financial year, India exported apparel worth $7.9 billion, a rise of 13 per cent over the year-ago period, the AEPC showed. For this financial year, Union textile minister K S Rao has pegged apparel exports at $20 billion. Last year, apparel and garment exports stood at $14 billion.
http://www.business-standard.com/article/economy-policy/indian-apparal-exporters-eating-in-to-china-bangladesh-s-markets-113110900404_1.html
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