Business Daily from THE HINDU group of publications
Friday, Jul 06, 2007
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Business Daily from THE HINDU group of publications Friday, Jul 06, 2007 ePaper |
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Industry & Economy
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Readymade Garments ‘Bangladesh may overtake India in garment exports’
Our Bureau Mumbai, July 5 Bangladesh is expected to overtake India in garment and apparel exports by January 2008, if the appreciation of the rupee continues at this rate. By January, Bangladesh will overtake India as an exporter of garments. Garment exports are worth Rs 800 crore. “We don’t expect any growth this year. Bangladesh exports should be about Rs 850 crore by January 2008,” said Mr Premal Udani, Chairman, Board of Trustees, Clothing Manufacturers Association of India, at the sidelines of a press conference. The total basket of textile exports are worth Rs 1,700 crore. And this figure is also expected to drop by Rs 200 crore by next year. The association has asked for Government intervention so that exporters do not continue to be adversely affected. “At the rate at which the rupee is appreciating, we don’t see any immediate relief for exporters. One recommendation we have made to the Government is to increase the duty drawback rates by 5-10 per cent,” said Mr Udani. It also announced the 48th National Garment Fair from July 24-26 in Mumbai. More than 250 companies are expected to participate and more than 400 brands will display their collections. At this year’s fair, there will be a Franchising Zone, which will help to connect prospective franchisees with established brands. Players who will be part of the Franchising Zone include Louis Philippe, Van Heusen, Allen Solly, Peter England and Oxemberg.
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