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Apparel exports decline 10.5% in June

The US and Europe together account for about 65% of India's total garment exports

Press Trust of India  |  New Delhi 

India's garment exports declined by 10.5% year-on-year to $1.1 billion in June due to weak demand in the US and European markets.

The exports stood at $2 billion in the same period last fiscal, according to the data provided by the Apparel Export Promotion Council (AEPC).

"The demand is sluggish in the US and European markets as buyers are placing few orders and not keeping inventories," AEPC Acting Secretary General Vijay Mathur said.

He, however, said the exporters expect the demand to pick up in the American market in the coming months.

The US and Europe together account for about 65% of India's total garment exports.

During April-June this year, apparel exports declined 12% year-on-year to $3.2 billion.

To reduce dependence on western markets, exporters are diversifying into new markets like Israel, Russia and South Africa.

During 2011-12, apparel exports grew about 18% year-on-year to $13.6 billion.

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First Published: Fri, August 03 2012. 18:39 IST