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.