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India’s garment exports register 7% growth in November 2002

PTI - New Delhi

India’s garment exports to quota countries including the US and EU registered a growth of around two per cent in quantity terms and seven per cent in value terms during November as compared to the same month last year.

Garment exports in value terms touched US$ 294 million compared to US$ 274.8 million in November 2001, as per provisional data compiled by the Apparel Export Promotion Council (AEPC) here. In quantity terms, exports of garments to restricted countries touched 83.6 million pieces compared to 82 million pieces in the corresponding period a year earlier, it said.

Cumulatively, exports during the first eleven months of the calender year 2002 registered an increase of 9.35 per cent in quantity terms and a growth of 7.81 per cent in terms of value over the previous year.

In terms of the fiscal year 2002-03, exports to quota countries during the April-November period grew by 11.01 per cent in quantity terms to 704.9 million pieces while registering a growth of 14.24 per cent in value terms to US$ 2.64 billion. The double-digit growth rate this fiscal can be largely attributed to good demand in the US market. Exports to US during April-November 2002-03 registered a growth of around 40 per cent in terms of quantity and 17.17 per cent in terms of value over the previous year.

Readymade garment exports to the EU during April-November 2002-03, however registered a decrease of one per cent in terms of quantity, though it went up by 14.67 per cent in terms of value. A similar trend was witnessed in the case of Canada, where exports during the first eight months of the current fiscal declined by over six per cent in terms of quantity and 13 per cent in terms of value. During November 2002, exports to US have shown an increase of 6.53 per cent in terms of quantity while registering a decrease of 8.98 per cent in terms of value. Exports to EU registered only a marginal increase of 0.19 per cent in terms of quantity but increased by a healthy 24.4 per cent in terms of value.