The just released data shows that the ready-made garment exports from the country have grown both on sequential and on year-on-year basis.
Stakeholders
However, the growth did not cheer the apparel sector stakeholders much as the country still is lagging behind in production of apparels made of man-made fibres.
As per the latest data that came out on Tuesday, Rs. 10,007 crore worth of ready-made garments in total were exported from the country in May this year which was 10.5 per cent more when compared to April this year on a sequential basis.
When compared on year-on-year basis, the ready-made garment exports from the country was 13.07 per cent more vis-à-vis the exports registered in May 2014.
Cotton-based garments
“We should not get contented with the growth as the lion’s shares of the exports are contributed by cotton-based garments whereas the trend in the global apparel market is fast shifting towards apparels made of synthetic man-made fibres. The global share of consumption of such ready-made garments is inching towards 70 per cent,” Prabhu Damodaran, secretary of Texpreneurs Forum, told The Hindu.
