Industry representatives believe this is an indication that the sector has begun its V-shaped recovery and the situation would get better.

India's apparel exports rose by 10.22 per cent in September 2020 to $1,190 million from $ 1,079 million in September 2019.

Industry representatives believe this is an indication that the sector has begun its V-shaped recovery and the situation would get better.

Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said that the steep recovery from the 90% fall in April to a 10% rise in September corroborates industry's belief that the apparel sector is already on the path of V-shaped recovery.

He said, “It was all made possible by of the positive steps taken by the government, especially the ministries of textiles, commerce, MSME and finance. A proactive government with dynamic ministers and supporting policies, our foray into medical textiles and a positive sentiment towards India are making the revival strong".

“The impact of the coronavirus (Covid-19) pandemic on apparel exports had been severe. However, we believe this turnaround, with a positive growth of more than 10%, will only gather momentum as we go forward into the second half of the fiscal. The negative growth trend has been arrested after several months and a lot of lost ground will be captured in H2. Apparel exporters are walking through positive growth,” Sakthivel said.

Published On : 16-10-2020

Source : Business Standard