Garment exporters survive despite slow demand in FY12: AEPC

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SME Times News Bureau | 17 Apr, 2012
Complementing Commerce Minister for crossing the USD 300 billion mark of country’s exports, Chairman Apparel Export Promotion Council (AEPC), Dr. A Sakthivel Tuesday said that the Indian garment exporting community had survived despite sluggish market conditions in FY-2012.

Sakthivel in his letter to Anand Sharma, Hon’ble Minister of Textiles, Commerce and Industry complimented him for supporting the country cross the USD 300 billion mark of exports.

He said, “On behalf of the USD 13 billion garment exporting community and 60 lac workers, who have contributed day and night in garment manufacturing and exporting, I thank the Hon’ble Minister of Textiles, Commerce and Industry for his leadership and vision as well as encouraging us for diversifying our exports.”

The hitherto struggling garment export sector, that witnessed dampening exports during most parts of 2011 due to bad market conditions in European Union and sluggish market in USA, survived on the exports front.

It is to be noted that the Indian textile industry is a key pillar of Indian manufacturing, contributing to 14 percent of industrial production and over 17 percent of Indian exports earnings and 45 of GDP.

More significantly, the industry is the second largest employment generator next only to Agriculture engaging 35 million people across various segments in the entire value chain.

The cotton textile industry has been facing a critical situation in recent times.

Apparel exports reached USD 12145 million in the month of February of financial year 2011-12 with a growth rate of 18.9 per cent against the corresponding period of last year.

In February 2012, exports increased by 1.5 percent against the corresponding month of last year.

In rupee terms, the exports have increased by 9.8 percent in February 2012 over the same month of the previous FY.

"We commit ourselves to continue our excellence in manufacturing and exporting. I am confident that the industry would continue to get your support for yet another achievement in the year 2012-12," Sakthivel added.