April 17, 2024
Export

India Arrests Downslide In November Garment Exports

After a long period of decline due to various global challenges, Indian garment exports increased 11.7 percent, from a year ago month to US $1.2 billion in November 2023.

“Exports of garments from India have witnessed a rough patch in the past few months,” Apparel Export Promotion Council (AEPC) Chairman Naren Goenka informed.

“This was due to the fact that most of our main exports markets like the US, UK and EU are witnessing recession and global headwinds, leading to fall in demand from these countries,” Goenka added.

“Inflation and rising costs of raw material and freight, aggravated by the Russia-Ukraine war, added to the burden of exporters,” he stated.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *