India begins exporting apparel negatively in 2020, it declines by 4.93% in January
According to reports released by the Ministry of Commerce of India, India started off 2020 with a negative impact on their global exports of apparel.
The category of knitted garment dropped 9.26% to US$ 639.46 million in export revenue, while the category of tissue felled by 1.23% to US$ 813.38 million.
In January 2020, the nation exported 1,452,84 million dollars of garments versus 1,528,19 million dollars in January 2019.
India reported a rapid decrease of 4.93 percent, which is no good start to the year.In its single biggest market in the USA, India has slightly decelerated by 0.37%, and in January 2020 has exported 402.11 million dollars worth of clothing, versus 403.63 million dollars worth of shipments in january 2019.
Mr Raja Shanmugham, Chairman of the Tirupur Exporters ' Association (TEA), has commented on Indian export results and said that the fall is unexpected. Apparel Capital. “We all were hopeful that January will be a positive month but, sadly, data differs. This might have happened due to low liquidity flow which has been widely spoken about on various platforms,” "Raja said, adding" “Due to this, we could not ship on time and some of the shipments got stuck in January, but I am sure this will reflect in February data.”
“All headquarters of major apparel and textile associations as well as EPCs are based either in Delhi or Mumbai and owned by corporates, which is hurting the growth and we can’t see any structural changes to empower industry,” said the President. However, the government proposed steps to boost declining exports.
“We need to create an official board region-wise in India keeping the region’s strength on priority. Authority of these boards must be handed over to regional leaderships. For example, Denim Board can be established in Bengaluru or Mumbai; Handloom Board can be made in Karur and similarly Knitting Board can be formed in Tirupur. Along with this, repeated leadership and colonial legacy must be abolished if we want India’s apparel industry to grow,” said Raja in a strong statement.
As falling exports have become patterns and the shift from China by India has been unable to take hold, and the Government has never seen any major changes to export policy, Raja viewed colonial legacy as a key element of India's RMG industry's dysfunctional output.