After dwindling for several months, due to world economic meltdown, textile exports to US are again on a path to revival, registering a growth in February and March.
In March, the textile and garment exports to US that account for more than a quarter of deliveries made by the industry, increased by 8.3 percent Year-on-Year (Y-o-Y) amounting to $487.8 million.
More so, as per data revealed from the US-Department of Commerce, in February the overseas sales rose by 7.7 percent Y-o-Y reaching $443.5 million.
However, garment exports to US in March recorded a modest 2.8 percent growth registering $315.1 million. Although, demands have started increasing in the US, bookings are quite normal and the trade enquiries have also been quite good.
All sectors of the industry are witnessing improvement with order books getting filled after nearly two years of slump period. While the recovery is being witnessed in both local and global markets, 2011 fiscal hopefully will be better for the industry.
ALCHEMPro News Desk - India
marketing@alchempro.com
