Garment sector aiming for 10 per cent growth in FY 09
The local garment industry is aiming for a 10 per cent growth in FY 09, a top industry official said.
By PTI |
MUMBAI: The local garment industry is aiming for a 10 per cent growth in FY 09, a top industry official said.
"The local garment industry has maintained a 15 per cent overall growth rate in FY 08 and has set a 10 per cent growth for FY 09," Clothing Manufacturers Association of India's President & Vice President of the Asian Apparel Federation, Rahul Mehta, said here today.
"Exports stood at USD 9.1-billion in FY 08, down by 10 per cent in rupee terms but it is 2 per cent up in dollar terms," Mehta said, adding that presently, export prospects have improved as rupee has weakened against the US dollar.
India mainly exports garments to the US and EU countries, but the US share has gone down by 6 per cent due to slowdown in the economy, Mehta said.
To improve export margins "we are moving to more non-dollar countries, alongwith offering high-value products and increasing the range of services to overseas buyers," Mehta added.
Meanwhile, the Clothing Manufacturers Association of India (CMAI), is organising the 49th National Garment Fair from July 9-11 at the Bombay Exhibition Centre in Mumbai.
More than 250 companies representing more than 400 brands are expected to participate in the event.
"The local garment industry has maintained a 15 per cent overall growth rate in FY 08 and has set a 10 per cent growth for FY 09," Clothing Manufacturers Association of India's President & Vice President of the Asian Apparel Federation, Rahul Mehta, said here today.
"Exports stood at USD 9.1-billion in FY 08, down by 10 per cent in rupee terms but it is 2 per cent up in dollar terms," Mehta said, adding that presently, export prospects have improved as rupee has weakened against the US dollar.
India mainly exports garments to the US and EU countries, but the US share has gone down by 6 per cent due to slowdown in the economy, Mehta said.
To improve export margins "we are moving to more non-dollar countries, alongwith offering high-value products and increasing the range of services to overseas buyers," Mehta added.
Meanwhile, the Clothing Manufacturers Association of India (CMAI), is organising the 49th National Garment Fair from July 9-11 at the Bombay Exhibition Centre in Mumbai.
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More than 250 companies representing more than 400 brands are expected to participate in the event.
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