April-October apparel exports dip 9.1% in dollar terms: AEPC
Export in dollar terms for first seven months of the current financial year, too, witnessed a fall of 9.1% over the same period of last financial year — from $7.848 billion to $7.133 billion. However, in rupee terms exports rose 7.98% to R38,826 crore compared with R35,956 crore in the first seven months of last financial year, Sakthivel pointed out. For FY12, exports in dollar terms rose 17.9% to $13.699 billion.
Commenting on the decline in the dollar term, Sakthivel said, “Buyers are not putting more orders due to turbulence in global economy, specially in Western Europe, the US and Canada. Moreover, there is a stiff competition from Vietnam and Bangladesh in the US market from Turkey in the EU market. Though, there are news that China is losing out in these markets. We need to focus to grab the market share lost from China. Moreover, increasing wage rates, hike in oil prices and inputs are other causes of worry as they are dent on exporter’s profit.”
On the apparel imports of the US, the AEPC chairman said: “The US witnessed decline of 2.07% in January-September 2012
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