The knowledge present that garment exports from April 2022 to January 2023 have been value $13.33 billion. The whole garment exports in 2021-2022 stood at $16.01 billion.
| Photo Credit: SIVA SARAVANAN S
Garment exports shrank 3.45% in January to $1.493 billion in contrast with the year-earlier interval’s $1.546 billion, in accordance to provisional export knowledge.
With this, the exports had witnessed contraction in July, August, September and October of 2022 and January of 2023 in greenback phrases.
However, in rupee phrases, exports grew 6.22% in January this yr from the year-earlier interval.
Of the entire garment exports, knitwear exports grew marginally (0.9%) year-on-year from $0.744 billion in January 2022 to $0.751 billion final month.
Narendra Goenka, chairman of Apparel Export Promotion Council, stated whole exports for the final 10 months have nonetheless seen a progress. Though there’s a slowdown now, the exports are anticipated to revive in one other 4 months.
The knowledge present that garment exports from April 2022 to January 2023 have been value $13.33 billion. The whole garment exports in 2021-2022 stood at $16.01 billion.
Tiruppur Exporters Association president Okay.M. Subramanian stated enquiries from manufacturers have improved and knitwear exports from Tiruppur are possible to bounce again to pre-COVID ranges after April.
“The demand is slightly better compared with the last three months in the European market. Yarn prices have reduced to 2021 levels and this is making Indian knitwear competitive,” he stated. After Christmas, the stock has decreased in Europe and there’s a demand now. Domestic yarn motion has picked up, indicating demand in the textile worth chain, he added.
