Business

Garment exports grow 12.13% in June

Releasing the data on the apparel exports for the month of June, A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC) stated, “Apparel exports were to the tune of US$ 1240 million in June 2013-14 with an increase of 12.13% against the corresponding month of last financial year. In rupee terms, the exports have increased by 17% in June 2013-14 over the same month of previous FY.”

Exports during April-June FY 2013-14 increased 11% over the same period of the previous FY to US$ 3561 million. However, in rupee terms, exports increased 15%, to Rs 19918 crore.

In the FY 2012-13 exports in dollar terms declined 6% from previous FY and totaled US$ 12923 million.

India's RMG Export to World
Month	FY 2012-13		FY 2013-14		MoM Growth (%)
Month	In INR Crore	In US$ Million	In INR Crore	In US$ Million	INR	US$
April	5847	1059	6252	1150	6.93	8.59
May	5665	1040	6228	1172	9.94	12.69
June	6195	1106	7239	1240	16.87	12.13
April-JUNE	*17342*	*3205*	*19918*	*3561*	14.85	11.11
Source: DGCI&S, Kolkata

Speaking about US imports from India, Sakthivel said, “Overall, US apparel imports increased 3.7% during Jan-May of 2013 from the previous year and amounted to US$ 30.6 billion. In Jan-May 2013, US imports of apparel from India declined 1%to US$ 1499 million against US$ 1500 million in Jan-May 2012. US imports saw increase from all major suppliers in Jan-May 2013 over the corresponding period of last year except for Mexico and India.” In Jan-May 2013 India was at sixth position. India exported US$ 285 million apparel in May 2013 with increase of 3.3 % over the same month of previous year.

EU’s apparel imports of US$ 32.8 billion during Jan-May 2013 registered a fall of 6%, over the previous year. India’s apparel exports to the EU during Jan-May 2013 amounted to US$ 2.5 billion, a decline of 1.1%, compared to same period of previous year, the AEPC chairman observed.

For the period Jan-May 2013, Turkey and Bangladesh are the only suppliers, which registered an increase in apparel exports to the EU; while China and India both witnessed falling exports.

In the month of May 2013 compared to the same month last year,all suppliers except for Turkey had registered decline in the apparel export to EU, with China registering the steepest fall.

EU’s apparel imports of US$ 83625 million in 2012 fell 12.3% over the previous year. India’s exports to the EU amounted to US$ 5129 million with decline of 21% over the previous year.

On the outlook of the garment exports A Sakthivel said, “In the last three months of the current fiscal, apparel exports have shown a robust growth of 10%. In the next nine months of this year, if we keep growing at the same pace, exports would touch around US$ 16 billion. Higher exports during April-June this year is due to better performance in the US and EU, where our exports went up as much as 16%. As per our estimates, we expect a growth of 15-16% in exports, if other factors continue supporting the current rate of growth.”