On the back of slowdown in its key export markets, shipments of textiles and clothing fell by just 1.7 percent to US $21.75 billion in the fiscal 2008-09, when compared to $22.13 billion in the fiscal year 2007-08.
The fall has been marginal only due to the fact that exports were on a high growth trajectory in the initial months of fiscal 2008-09, although they fell at an equal pace in the last three months of the same fiscal.
The only saving grace from amongst the different product categories were garments which was able to close the fiscal with a nominal gain of 4 percent, while jute products fell by 9.5 percent and shipments of cotton yarn dipped by 11.8 percent.
Fibre2fashion News Desk - India
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