India garment exports in 17.6% YTD rise
The value of garment exports from India rose 17.6% to top US$8bn in the first six months of the fiscal year, according to new figures.
Speaking at the opening of the 22nd India Market Days trade event in Gurgaon, Virender Uppal, chairman of the Apparel Export Promotion Council (AEPC), said exports were on a “sustained path of growth”, increasing 16% to $1.3bn in September alone.
That meant that exports had soared by 17.6% to $8.3bn in the April to September period, he added, thanks to a combination of rising labour costs in China, non-compliant factories in Bangladesh, high inflation and currency appreciation with competitor countries.
“A small push from the Government with its policy support may help India to get more business as overseas buyers are looking at India as a safe and reliable option for sourcing,” Uppal said.
“But to capture the space in [the] market left by China and Bangladesh, we have to be competitive in pricing, apart from meeting strict timelines, better quality delivery by Indian exporters.”
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