Apparel exports grow about 13% in April

India's apparel exports grew by about 13 per cent to USD 1 billion in April 2011 year-on-year, due to strong demand from the US and European markets.

The exports stood at USD 972 million in April last year, according to the data provided by the Apparel Export Promotion Council (AEPC).

"There is a good demand for our exports from the US. Also, the European market is picking up," AEPC Chairman Premal Udani said.

The US and Europe together account for about 65 per cent of India's total garment exports. The council expects garments exports' growth to continue in 2011-12.

"We expect exports to touch USD 14 billion in the current fiscal as we are getting good orders not only from the western markets, but also from new markets like Latin America," Udani said.

During 2010-11, garments exports grew by 4.4 per cent to USD 11.1 billion compared to the previous fiscal.

The garment industry employs about 70 lakh people in the country, out of which almost half are engaged in the export sector.

Source : http://economictimes.indiatimes.com/news/economy/indicators/apparel-exports-grow-about-13-in-april/articleshow/8647100.cms

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