Apparel Export Slide Continues In Oct
Reports of imminent global economic recovery signs do not seem to be applicable for
the apparel export sector as it continues to witness poor demand and lower volumes. Indian apparel exports plunged 17% in October 2009 to Rs 2812.3 crore, as compared to Rs 3068.9 crore recorded during the same period last year, when exports registered a slide of 9.62%.Besides sluggish demand, majority of the SME apparel exporters have lost their market share to competing countries such as China, Vietnam and Bangladesh on account of their uncompetitive pricing of fabrics in comparison to these nations, said Ashish Maheshwari, proprietor of Sonu International, a small-sized garment exporting unit in Kolhapur.
High prices of cotton have raised the price of garments manufactured by SMEs in India. This has compelled overseas buyers to look for cheaper yarn and place orders with countries such as China, Vietnam, Indonesia and Cambodia, which are selling garments at lower rates as compared to India.
Indian SME apparel exporters are losing out to their neighbouring units in terms of price competitiveness, thereby resulting in export slide, said Sandeep Bhutoria, director of Fashionpoint, a small-sized garment export company in Surat.
The Apparel Export Promotion Council (AEPC) has also blamed the absence of adequate incentives for exporters, arguing that the global counterparts enjoy more benefits, thereby giving the latter an edge over Indian exporters in the international platform.
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