India’s apparel exports grew by 24.96% to $1.49 billion in the month of May mainly on the back of strong demands in non-traditional markets like Latin America, West Asia, Southern Africa and East Asia. Further, regulatory and labour problems in major competitors like Bangladesh, China and Myanmar also helped Indian apparel exports. However, India’s overseas shipments to traditional markets like the US and Europe remained sluggish.
During the first two months of the current fiscal, the value of apparel exports stood at $2.81 billion, which is 20 percent higher than $2.35 billion exports registered in the corresponding period of last fiscal.
India's apparel export is expected to cross $ 17 billion mark in FY15 from $15 billion recorded in FY14. India exports around 65% apparels to the US and European markets. Despite sluggish shipments to traditional markets, Indian apparel export has enhanced mainly on the back of recent steps taken by government and industry player to focus more evolving new markets and establish brand India in non-traditional markets such as Brazil, Israel, Russia, and Japan.