India’s garments exports increased by 31 per cent to $1.19 billion year-on-year in October 2013, pushed by increased demand from all major markets including the US and the EU.
With higher orders flowing in from all regions, except South Asia, garments have become one of the top growing export sectors. India’s total exports during October posted a 13.47 per cent growth to $27.27 billion.
“Our efforts and investments in the right markets coupled with Government support have paid dividends. It was indeed a difficult time (global slowdown), but between opportunity and crisis trade-offs, we kept on looking for better and newer markets, kept innovating our products as well as making robust our compliance practices,” Apparel Export Promotion Council A. Sakthivel said in a release.
Sakthivel said because of the high quality of garments, India had become a preferred sourcing destination for brands like Zara, Gap, H & M, Mango, Elcorte, Desigual, Tommy Hilfiger, etc. and prominent chain stores such as Walmart, C&N, H & M, JC Penny, Target, Sears, Marks & Spencers and H&M.
In January-September, US imports of apparel from India increased by 5 per cent to $2.5 billion. India’s export to EU in the January-July period was 1 per cent higher compared to the previous year amounting $3.4 billion.
EU was the top destination for garment exports by India followed by the US and West Asia.