Garment exports rise 27% in FY06
Financial Express, India
COIMBATORE, APRIL 23: Garment exports from India have increased by 27%, registering $7 billion in 2005-06, as against $5.5 billion in 2004-05.
After phasing out of quota system in 2005, the exports to the US have gone up by 34% and European countries by 30%, A Shaktivel, president, Tirupur Exporters’ Association told reporters at Tirupur.
As far as exports from Tirupur are concerned, knitwear has recorded Rs 8,000 crore during the review period (out of the total Rs 13,000 crore all India exports) compared to Rs 6,000 crore in 2004-05, he said.
As it was difficult to get the exact figures, since the exporters were not registering with apparel export promotion council, the figures were given by an independent agency, which had collected figures from importing countries, he said.
Saying that the increase of 27% was more than expected, Saktivel said that a 30% increase has been targeted during this financial year.
After the quota system was phased out, there was a marked shift in the behaviour of American market for India and China and there was a deflection of trade from China to India in the apparel sector, he claimed.
The exporters in Tirupur have given shape to a Rs 700 crore marine discharge project, for clearing the effluents and have already approached the state, Sakthivel said.
—PTI
