Apparel exports grow 4% to $10.13 bn in FY09

Apparel exports rose over four per cent to $10.13 billion in 2008-09 as against $9.68 billion in the previous year.

Apparel Exports Promotion Council (AEPC) Chairman Rakesh Vaid attributed the reason for the growth to robust performance witnessed in the first two months -- April and May in 2008, after that there was a slowdown during the last six months of the fiscal.

Vaid, who is in Tirupur to attend the 3-day 28th India Knit Fair, told reporters that the recession usually put pressure on prices only, particularly in apparel industry. Due to the constant increase in the population, the demand for apparels was always on the upper side.

Asked about the situation this fiscal, he said it was projected to register a growth rate of seven per cent.
 
However, compared to India, other Asian countries like China, Bangladesh and Indonesia had registered exponential growth of 15, 20 and 35 per cent, respectively, Vaid said.

A wide range of spring and summer collections of apparels and readymade garments were on display at the fair.