Apparel exports up 15 pc in September: AEPC

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SME Times News Bureau | 11 Oct, 2013
Apparel exports from country has reported a growth of 14.95 percent in September, with USD 1.1 billion of export due to good demand from the US and euro zone, informed the apparel council in a press release.

"Apparel Exports for the month of September 2013 grew by 14.95 percent registering to the USD 1.11 billion for September 2013," said Dr A Sakthivel, Chairman Apparel Export Promotion Council of India (AEPC).

"We have organised fairs last month, we went to BSM New York and Spain and we got the positive signals of the revival of the economy in USA and EU," he added.

Lauding the efforts of the exporters and Government Dr. Sakthivel said, "This is the sixth consecutive months where garment exports grew at an average of 13 percent."

Even, the Exports led employment grew by 6.5 percent for the month of April- June 2013 (Labour Bureau Quarterly Reports July 2013).

Sakthivel has expressed happiness over the growth of exports. Country's exports rose by 11.15 percent to USD 27.68 billion in September while imports dipped by 18 percent, helping to narrow trade deficit to a two-and-a-half-year low, government data showed Wednesday.

According to data released by the commerce ministry, imports contracted by 18.10 percent to USD 34.44 billion in September, leaving a monthly trade deficit of USD 6.76 billion. This is the lowest trade deficit since March 2011.

Trade deficit was recorded at USD 10.9 billion in August and USD 12.27 billion in the previous month.

Requesting the Government, to put exports in the priority sector which was accepted by the Padmanabhan Committee can solve the problem of credit crunch for the Industry.

Dr Sakthivel assured that with the support of the Government we would be meeting the target.

Reacting on the overall trade, the lowest trade deficit in the last six month is good news. The good monsoon, positive manufacturing core sector and revival of the US economy can spin the game and export may be very good this year, he added.