The overall exports of India’s readymade garments industry recently reported a drop of 62 per cent between April and June 2020, as compared to the corresponding period of the previous year.
While the country registered the exports worth Rs. 29,008 crore during the April-June 2019 period, it saw a steep decline to reach only Rs. 10,955 crore in the period currently under review.
Breaking down the figures of the 3 months, The Indian Express stated while there were apparel exports of Rs. 9,786 crore in April last year from India, the numbers came down to merely Rs. 962 crore during April this year.
As markets started opening up in May 2020, the month saw a slight increase in the export figures clocking Rs. 3,909 crore, as compared to Rs. 10,661 crore posted in May 2019.
June 2020 registered a better report of exports at Rs. 6,083 crore, as against Rs. 8,561 crore in June last year.
As European countries, USA and Middle East are now looking for new markets outside China to place orders, India has not been able to take full advantage of the situation owing to the reduced workforce here as well as its manufacturing units that are not ready for bulk production yet.
