India’s apparel exports grow .%

According to India’s “Financial Express” report on April 25, the Indian Apparel Export Promotion Council (AEPC) recently stated that due to the first few months of the just-concluded 2013-2014 fiscal year (April 2013-March 2014) With the depreciation of the rupee and the recovery of the US economy, India’s apparel exports reached US$14.94 billion in the last fiscal year, an increase of 15.4%. However, since the rupee has appreciated by 11.2% since August last year, and especially from January to March this year, the rupee has continued to appreciate by about 3%, clothing exports have declined during the same period. In addition, due to the lack of policy intervention in the industry, clothing exports in the last fiscal year were still lower than the export target of 17 billion.
AEPC said that soaring garment manufacturing costs in China and issues with factory safety standards in Bangladesh also contribute to India’s export growth. Taking into account “exchange rate fluctuations and unstable global economic conditions”, India’s apparel exports performed well in the last fiscal year, much higher than the 4% growth in national exports.