Apparel exports from India declined by 6 percent to USD 12.92 billion in 2012-13 due to the demand slowdown in major markets of the US and Europe, an apex body of Indian apparel exporters informed Tuesday.
"In 2011-12, the sector's export stood at USD 13.71 billion," said Apparel Export Promotion Council (AEPC) in a statement.
Dr. A Sakthivel, Chairman AEPC, while releasing the apparel export data for the month of March 2-12-13 stated that, "Export in dollar terms for 12 months of the Financial Year (FY) 2012-13 has declined by 6 percent over the same period of previous FY and reached to USD 12.92 billion."
Apparel exports were to the tune of USD 1.38 billion in March 2012-13 with increase of 12 percent against the corresponding month of last financial year, he added.
Chairman AEPC has on behalf of the apparel Industry has demanded duty credit scrip at 5 percent of garment exports for the export performance in the year 2012 -13, for issuance of duty credit scrip from the year 2013 -14 and onwards.
On account of the spiraling cotton yarn prices Chairman has proposed the banning the cotton exports from India or allowing garments exporters to import duty free yarn and fabrics.
These demands are essential to honor our commitment to the buyers who have given orders before the hike in the cotton yarn. I hope the Government will understand the pressing crisis of this job critical sector and act, he added, Garment exports have been constantly falling since July 2012.
Dr. Sakthivel informed that, "EU's apparel import accounted for USD 15.6 billion for the Jan-Feb. 2013 with a decline of 3.1 percent over the previous year. India's export to EU for the Jan-Feb 2013 amounted to USD 1.1 billion with a decline of 6.5 percent compared to same period of previous year."
He further said, "For the period Jan-Feb 2013 apparel suppliers Like Bangladesh and Turkey have registered increase in the apparel export to EU and China and India has registered decline. In the month of February 2013 compared to same month of last year, apparel suppliers Like Bangladesh and Turkey have registered increase in the apparel export to EU and China and India has registered decline. Highest fall in import has been registered by China and India."
EU's apparel import accounted for USD 83.62 billion in the year 2012 with a decline of 12.3 percent over the previous year. India's export to EU amounted to USD 5.12 billion with decline of 21 percent over the previous year.
Speaking on the Apparel Imports of US Chairman AEPC commented, "Apparel imports of the United States witnessed increase of 4.7 percent in the first two years of 2013 from the previous year and amounted to 13.2 billion dollars. In the Jan-Feb 2013, US imports of apparel from India declined by 7.2 percent and reached to USD 571 million against USD 615 million in Jan-Feb. 2013."
US imports saw increase from all major suppliers in Jan-Feb. 2013 over the corresponding period of last year except for Mexico and India. In Jan-Feb 2013 India was at 6th position. India exported USD 293 million apparel in Feb 2013 with decline of 3.2 percent over the same month of previous year.
"India is 7th largest apparel exporter to Canada with 3.2 percent share. China is the largest apparel supplier to Canada followed by Bangladesh, Cambodia, USA, Vietnam and Mexico," he added.