Indian garment exporting community survives despite sluggish market conditions
Dated- 17 Apr , 2012 - India
Indian garment exports to the US has touched a figure of $13 billion in FY12 despite an economic slowdown. The overall exports from India in FY12 has touched $300 billion.
A Sakthivel, chairman Apparel Export Promotion Council (AEPC) in a letter to the Union minister of textiles, commerce and industry Anand Sharma complimented him for supporting the country cross the US$ 300 billion mark of exports.
The AEPC chairman said, "On behalf of the US $13 billion garment exporting community and 60 lac workers, who have contributed day and night in garment manufacturing and exporting, I thank the minister for his leadership and vision as well as encouraging us for diversifying our exports."
""The hitherto struggling garment export sector, that witnessed dampening exports during most parts of 2011 due to bad market conditions in European Union and sluggish market in USA, survived on the exports front,"" he added.
Apparel exports reached $ 12145 million in the month of February of financial year 2011-12 with a growth rate of 18.9 per cent against the corresponding period of last year.
In February 2012, exports increased by 1.5 per cent against the corresponding month of last year. In rupee terms, the exports have increased by 9.8 per cent in February 2012 over the same month of the previous fiscal