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Garment and home textile export orders decline by 15-29%

  

Industry experts say, export orders of garments and home textiles from the US and Europe have declined by about 15-20 per cent, as western retail brands are facing slow demand.

In Panipat, export orders have declined by up to 40 per cent. The decline is attributed to the Russia-Ukraine war, and hike in interest rate.

Industry sources said that importers from western countries have not only reduced orders for the next season but also postponed the deliveries of previous orders. Last month, importers of several home textile exporters refused to take delivery. Buyers said that retail sales in western countries slowed down significantly due to high inflation. Warehouses are full of unsold goods. Therefore, it is not possible for them to take delivery immediately.

Exporters from Panipat, who returned after participating in the trade fair held in Germany in June, said that they have received 40 per cent lower export orders for home textiles compared to last year.

Ramesh Verma, Member, Handloom Export Promotion Council says, large companies and retail brands from the US and Europe had procured home textile products in excessive volume last year. But retail sales remained very weak. Therefore, they have to reduce their buying. The exporters are having fewer orders for next season.

The exporters are currently placing orders for Christmas and next summer season.

 
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