Indian apparel export market is facing hard times over the last three years. Previously it was struck by the global economic slump, while last year the vertical rise in synthetic and cotton yarn prices badly hit exports, said Premal Udani, Chairman of the Apparel Export Promotion Council (AEPC).
During last 2010-11 fiscal, the country exported apparel items worth $10.8 billion, which was at par with the previous fiscal's exports. In 2008-09 too, the commodity exports remained flat due to the economic crisis, while in earlier times, the segment used to grow at a rate of 10-15 percent per year, said Udani, while on a visit to Ludhiana.
He visited the city to devote a library to the exporters at AEPC's regional office near Bhaibala Chowk.
Udani while speaking on exports said that, though they concluded the previous financial year at $10.8 billion, they have set a target of $12 billion in exports for the current financial year. Though this is not a significant rise, but considering the issues that the export sector is confronted with at present, they have raised the target negligibly, he added.
He stated that, they had inked a free trade pact with Japan and were having high hopes of boosting exports to the Japanese market, but as the country has been badly hit by natural calamities, they are now even eyeing other markets like that of Latin America, South Africa, etc., apart from the traditional markets of the EU and the US.
While talking about Ludhiana he said that, Ludhiana's cotton hosiery export turnover does not exceed Rs. 10 billion per year, while Tripur, which joined the industry long after Ludhiana, each year exports cotton hosiery items worth over Rs. 150 billion. Thus, Ludhiana actually needs to pick up, he said.
Further, while speaking about the Library, the AEPC Chief revealed that, they each year spend around five million rupees towards their three libraries in New Delhi and Mumbai, and that they have now shifted one of their libraries from Mumbai to Ludhiana. If they meet positive response it would be developed further, he added.
AEPC's Senior Librarian, Prachi Jethar stated that, they have spent around Rs. 1.2 million towards the Ludhiana library by way of books, magazines and to provide a one click information facility to the exporters.
The exporters would be given passwords, using which they can access all fashion related information on their computers while sitting in office. If this facility meets good response, it would be further expanded.
Fibre2fashion News Desk - India
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