Yarn exports fell between 80-ninety% in April and about thirty% in the course of the quarter ended March as imports by China, which accounts for a third of India’s yarn exports fell as garment units there shuttered. Imports by Bangladesh, which accounts for almost a fifth of India’s yarn exports, also declined, according to a Crisil Study report.
Meanwhile, the export of all set-built clothes declined by ninety one% in April and by about sixteen% in the course of the March quarter. The US and the European Union, which with each other account for sixty four% of India’s readymade garment (RMG) exports, are staring at a economic downturn.
In its eighteen May well version, ET