Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

India’s RMG sector earnings decline 12.12 per cent till August

The Readymade Garment Exports (RMG) sector is continuously declining. From August to April the sector declined by 12.12 per cent to reach $6.61 billion down from $7.522 billion in April 2018. The major reasons are: rising cotton prices, GST and reduction in duty drawbacks. Post-GST, reduction in duty drawback, and remission of state levies are some of the other factors that have affected the industry badly.

The negative trend in export has become one of the most worrying factors affecting the RMG industry. Recently, the export fraternity met the Apparel Export Promotion Council (AEPC) discussing the ongoing challenges in the industry. But an announcement is yet to be made as they believe that it may negatively impact the relationship with their clients.

A delay will drive buyers to competitors Bangladesh, Vietnam, Ethiopia, Myanmar. And once they settle there it would be difficult to bring lure them back to India. Meanwhile, the season will go off with partial orders.

 

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo