India’s apparel export has shown a decline of 22.76 per cent for the month of April 2018 as against the corresponding month of April 2017, as per the latest trade data. In April 2018 the Indian RMG exports were to the tune of $1.34 bn (approx.) as against the corresponding month of April 2017, when the exports was $1.74 bn (approx.). In rupee terms export for the Month of April 2018 was Rs. 8,859.67 cr as against Rs. 11,272.24 cr in April 2017, showing a decline of 21.40 per cent.
India’s apparel production has also shown a decline of 18.6 per cent in the month of March, 2018 and a decline of 11 per cent for the period April-March, 2017-18 as per the latest IIP figures. This is the 11th straight monthly decline in apparel production.
Talking about the decline in exports, HKL Magu, Chairman, Apparel Export Promotion Council (AEPC) said, “The export figures for apparels for the month of April 2018 has shown a decline of 22.76 per cent and the apparel manufacturing is also in the negative territory. The apparel production has registered a decline for the 11th straight month in March. Last year (2017-18) the Industry witnessed a strong growth but now the exports are in a negative territory since October due to a declining trend in the global apparel Industry. The high base effect has been due to the release of RoSL amount during April 2017 but the continued backlog in GST and RoSL is affecting the sentiments. We would like the government to address the issue at the earliest to reverse the trend of stagnating exports.”
While India’s RMG export to World in the period April-March of 2017-18 was to the tune of $16.71 bn. (approx.) which has decreased by 3.83 per cent compared to the same period of previous financial year. During April-March 2016-17, India’s apparel exports were to the tune of $17.38 bn. (approx.). AEPC has been engaging with the policy makers for an early resolution of the issues.