The Hindu Business Line : Readymade garment exports increase

EXPORTS of readymade garments (RMGs) to quota-restricted countries during the first five months of the current fiscal grew by a modest 1.6 per cent in volume and 7.67 per cent in terms of value, compared with the corresponding months of 2002-03.

According to figures compiled by the Apparel Export Promotion Council (AEPC) here, exports of readymade garments to restricted countries during the period April to August 2003 amounted to 466.2 million pieces valued at $1,857.2 million.

Exports to the US during the period under review amounted to 162.9 million pieces valued at $826.8 million, representing a decrease of 7.55 per cent in terms of volume and 5.2 per cent in terms of value, when compared with April-August 2002-03. Exports to the European Union (EU) composed of 15 countries during April-August 2003 amounted to 280 million pieces valued at $953.8 million compared with the corresponding months of last year, showing an increase of 9.55 per cent in terms of volume and 24.05 per cent in terms of value. Exports to Canada during the period under review amounted to 23.3 million pieces valued at $76.6 million, showing a decrease of 12.73 per cent in terms of volume and 5.32 per cent in terms of value, when compared with April-August 2002-03.

Exports of RMGs to restricted countries during August 2003, the latest available figure, showed a sharp drop of 9.28 per cent in volume and 5.75 per cent in terms of value at 74.3 million pieces and $312.8 million, against 81.9 million pieces and $331.9 million in August 2002.

Official sources told Business Line here that in tune with the pick-up in activity in the US the demand for Indian garments would also show growth in the second half of the current fiscal. The fact that the SARS concern and the powerloom strike had a telling effect on the export of many other textile and clothing items would have been partly responsible for the slow growth of RMG segment to the quota-restricted countries.

The situation has since vastly improved and the trend would be on the upside in the coming months, they said adding that the exports outside the quota regime have been growing both in value and in volume.

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