India'S Massive Reduction Of Textile Workers Is Expected To Begin In April.
The Bangladesh garment industry has been frequently exposed by the media recently. Bangladesh clothing exports to the United States have surpassed India. According to reports, India garment industry has seen negative growth in recent months. Now the garment industry in India has experienced a real shrinkage.
Garment manufacturing is a typical labor-intensive industry since September last year. Economic crisis Since the outbreak, about 500 thousand people have been unemployed, and this proportion is expected to continue to expand.
Representing more than 6600 families Clothing export Mr Rakesh Vaid, President of AEPC, said that exports to the United States and the European Union account for about 77% of the country's clothing exports, but globally. Economic retrogression The garment export industry has been hit hard.
He said that so far, exporters have supported the rupee's depreciation against the US dollar. In 2008, the rupee depreciated to 18% against the US dollar, but profits were decreasing and price pressures were increasing. This led to a decline in unit prices and would be even more severe in the future.
He said that overseas buyers turned their business to low cost countries such as Bangladesh and Vietnam, and their quotations were 12 to 15% lower than those in India.
He pointed out that if no measures were taken to change the current situation, the order of India companies will be less and less. From April, enterprises will lay off a large number of employees. He urged the government to raise the export tax rebate rate and enhance the competitiveness of the garment industry in the global market.
Editor: vivi
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