The garments exports fell to USD 816 million in July on
lesser demand from the US and European markets, according to the Apparel
Export Promotion Council (AEPC)…”The demand from western
markets like the US and Europe has still not revived as there is a slow
recovery in these economies,” AEPC Chairman Premal Udani was quoted by a
news agency…The US and EU account for about 80 percent of the
country’s total apparel exports, which aggregated to USD 10.64 billion
in 2009-10…During April-July 2010-11, apparel exports declined by annual eight percent to USD 3.46 billion…In
contrast, India’s overall exports during the April-July period
aggregated at USD 68.63 billion, up 30.1 percent over the same period
last year…In July, overall exports went up by 13.2 percent in July to USD 16.24 billion…While
the government, in the recent amendments to Foreign Trade Policy,
announced extension of the incentives under the Market Linked Focus
Product Scheme (MLFPS) to EU till March 31, 2011, the industry wanted
that the relief be also provided for the shipments to the US as well…Under the MLFPS, the exporters get two percent incentive on value of exports”
Date:8/30/2010
Source:Fibre2fashion