With the disruption in production in Bangladesh due to political turmoil and the rising cost of garment produce in China, global orders are being diverted to India from these nations, which is likely to help the Indian apparel exports that has clocked a 13.4% growth in dollar terms in April-February of FY15.
Secretary General of Confederation of Indian Textile Industry (CITI), DK Nair said: “The apparel exports have shown an encouraging growth in the current fiscal. The political turmoil as well as safety and security issues in Bangladesh have emerged as a major problem for the garment industry there.”
Some of the global buyers of Bangladesh are now showing interest to purchase garments from India. The United States demand is also showing recovery though that from the European Union (EU) still remains muted.
Garment exports stood at 1,538 million US Dollar in February with an increase of 8.7% against the corresponding month in 2014.
India’s garment export to the global markets for the period April-February of FY15 was 15,262 million US Dollar, up by 13.4% from 13,456 million US Dollar during the same period previous financial year.