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'Apparel exports to see V-shaped recovery'
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SME Times News Bureau | 17 Oct, 2020
Apparel Export Promotion Council (AEPC) Chairman, A. Sakthivel on Friday
said that the double-digit growth in apparel exports in September
indicates that the sector has begun its 'V-shaped recovery' and will
improve further. "Apparel exports rose for the first time this
fiscal in September. The steep recovery from 90 per cent fall in April
to 10 per cent rise last month corroborates our belief that the apparel
sector is already on the path of V-shaped recovery," he said.
Thanking
the Centre for helping the industry come out of this crisis, Sakthivel
noted that it has been possible because of the positive steps taken by
the government, especially the Ministries of Textiles, Commerce, MSME
and Finance.
"Pro-active government with dynamic ministers and
supporting policies, our foray into medical textiles and positive
sentiment towards India are making the revival strong," he said.
Apparel
exports saw a positive growth of 10.22 per cent for September 2020
($1.19 billion compared to nearly $1.08 billion in September 2019.
"The
impact of pandemic on apparel exports had been severe. However, we
believe this turnaround with a positive growth of more than 10 per cent
will only increase as we go forward in the second half of the fiscal,"
he added.
According to Sakthivel, the negative growth trend has
been arrested after several months and a lot of lost ground will be
captured in the second half of the current fiscal.
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