India's Apparel Exports On The 'Path Of V-Shaped Recovery'
Employees use sewing machines on a production line at the CBC Fashions Pvt. factory in Tiruppur, Tamil Nadu, India (Photographer: Dhiraj Singh/Bloomberg)

India's Apparel Exports On The 'Path Of V-Shaped Recovery'


Apparel exports logged double-digit growth in September, which indicates the segment is on course for a V-shaped recovery, Apparel Export Promotion Council said on Saturday.

AEPC Chairman A Sakthivel said apparel exports rose for the first time this fiscal in September and the steep recovery from 90% fall in April to 10% rise last month "corroborates our belief that the apparel sector is already on the path of V-shaped recovery".

He added that steps taken by the government are helping the sector to deal with the problems related to the Covid-19 pandemic.

Exports saw a growth of 10.2% in September to $1.2 billion as compared with $1.079 billion in the same month a year-ago.

The impact of pandemic on apparel exports had been severe. However, we believe this turnaround with a positive growth of more than 10% will only increase as we go forward in the second half of the fiscal.
A Sakthivel, Chairman, AEPC

Sakthivel said the negative growth trend has been arrested after several months and a lot of lost ground will be captured in the second half of the fiscal.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.