Apparel Export Promotion Council (AEPC) Chairman Dr A Sakthivel said that the double-digit growth in apparel exports in September.
indicates that the sector has begun its V-shaped recovery and is going to get better.
“Apparel exports rose for the first time this fiscal in September.
The steep recovery from 90% fall in April to 10% rise last month corroborates our belief that the apparel sector is already on the path of V-shaped recovery,” Dr Sakthivel said.
Apparel exports saw a positive growth of 10.22% for September 2020 (USD 1,190 million) vis-à-vis USD 1,079 million in September 2019.
“The impact of pandemic on apparel exports had been severe.
However, we believe this turnaround with a positive growth of more than 10% will only increase as we go forward in the second half of the fiscal.
The negative growth trend has been arrested after several months and a lot of lost ground will be captured in H2.
Apparel exporters are walking through positive growth,” Dr Sakthivel said