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ReturnIndia: indiaˊs exports fall by 2 percent in the first five months of this year
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PublishDate：
2007-08-15 16:19:00
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The 10 percent rise in India’s rupee has adversely affected India’s textile exporters. The currencies of competing countries such as Vietnam and Bangladesh depreciated by 0.4 percent giving them impressive gains in the US market.
Despite growing volumes, textile exports to the US remained flat at Rs9,200 crore in the first five months of 2007. Textile exports from India were estimated at Rs72,000 crore in 2006-2007.
The US accounts for 33 percent of these exports. Bangladesh’s apparel exports grew by 20 percent to $3.1 billion (Rs12,400 crore) in the year ending May 2007, according to the US commerce department.
Exports of apparel and textiles from Vietnam, Cambodia and China also grew by more than 20 percent in the first five months of 2007. In comparison, India’s exports of apparel and textiles went down by 2 percent to Rs12,640 crore.
Source: Industry Website
