India's apparel exports decline 22.76% in April

India’s apparel exports in April 2018 were to the tune of $1.34 billion, registering a decline of 22.76 per cent against exports of $1.74 billion in the corresponding month of last year, as per the latest trade data. In rupee terms, exports for the month of April 2018 stood at ₹8,859.67 crore against ₹11,272.24 crore in April 2017, down 21.4 per cent.

“The exports are in a negative territory since October due to a declining trend in the global apparel industry. The high base effect has been due to the release of rebate of state levies (RoSL) amount during April 2017 but the continued backlog in GST and RoSL is affecting the sentiments. We would like the government to address the issue at the earliest to reverse the trend of stagnating exports,” said HKL Magu, chairman, Apparel Export Promotion Council (AEPC).

In fiscal 2017-18 that ended on March 31, India’s apparel exports fetched $16.71 billion, a decline of 3.83 per cent compared to exports of $17.38 billion in the previous financial year.