Apparel exports grew 12% in August to more than $1.2 bn
Apparel exports registered 11.9% growth in August to $1,268.2 million compared with $1,133.5 million last August. Ready-made garment exports have been growing since May. Between April and August, exports were 7.1% higher this year as against April-August, 2023.
In rupee terms, exports were 13.4% higher last month compared with last August and 8.7% more in April-August FY25 compared with the corresponding period in FY24.
K.M. Subramanian, president, Tiruppur Exporters Association said most of the knitwear factories were operating to full capacity and there were enquiries from overseas buyers who were looking for multiple sourcing destinations. If orders moved from Bangladesh to India, the garment units would start investing for additional capacities, he said.
Mithileshwar Thakur, Secretary General, Apparel Export Promotion Council (AEPC), said in a press statement that exports to Japan, Korea, Australia, Mauritius and Norway grew 7.7%, 16.8%, 12.5%, 6.6% and 17.3% respectively in the first quarter of this fiscal year.
According Sudhir Sekhri, chairman AEPC, long-term policy support for garment exports, will provide stability and propel garment exports from India.
Published - September 19, 2024 09:17 pm IST
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