Econom

Garment exports grow 35 per cent to $11.3 billion in first three quarters

BL Delhi Bureau New Delhi | Updated on January 04, 2022

India’s monthly garment exports touched a record high of $37.29 billion in December 2021, posting a growth of 37 per cent year-on-year.

Exporters have a fast growing order book from brands and buyers across the world, says AEPCE

Indian apparel exports have bounced back this fiscal with outbound shipments in the first nine months posting 35 per cent growth to $11.3 billion, the Apparel Export Promotion Council (AEPC) has said.

“Apparel exports have grown despite the fact that local restrictions impacted operations in the first quarter during the second wave of the pandemic. Exporters have done exceedingly well and dealt well with the challenges,” said A Sakthivel, Chairman, AEPC.

Garment exporters have a fast-growing order book from brands and buyers across the world, a statement issued by the body pointed out. With the active support of the government and driven by strong demand conditions, Indian apparel exports will see historic highs in the coming months, it added.

India’s monthly exports touched a record high of $37.29 billion in December 2021, posting a growth of 37 per cent over the same month last year, and exports in the first three quarters of the fiscal were a record $300 billion.

Commerce & Industry Minister Piyush Goyal said on Monday the country would meet the $400-billion export target set for 2021-22. This would be the highest exports ever achieved for the country.

The country’s highest annual export so far was in 2018-19 at $330 billion, while the highest monthly export prior to December’s performance was in March 2021 at $34 billion.

Published on January 04, 2022

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