EU Financial Crisis Hits India'S Clothing Exports

A senior official said that the current European Union and the United States took place.

At the opening ceremony of the second South Asia largest fabric exhibition held in Gurgaon, New Delhi, India textile minister Richard maonon emphasized that it is necessary for India exporters to divide their labour and explore other emerging markets, such as Africa and Latin America.

The purpose of the procurement area is to gather overseas manufacturers and India exporters under one roof, which is of great significance, especially at present.

Ms. Nong said that during the 2008-09 economic crisis, India

However, she added that the situation is better now, and she expressed the hope that things will begin to improve 2012-13 years ago.

Premal Udani, chairman of the India Clothing Export Promotion Association (AEPC), said that clothing companies have already dropped 10-12% and the employment market has also shrunk 10-12%.

AEPC president said that although the current situation is very pessimistic, we must not lose hope.

He suggested that India producers focus on innovation and fabric design, and try to integrate their expertise into the cotton spinning industry.

He further said that the world needs synthetic fiber, so the development of synthetic fiber can provide a new market segment for India manufacturers. He also said he hoped the market would recover in the next 6 months.

According to industry analysts, European buyers are likely to turn next year's orders to Bangladesh and China until the clothing prices in India are eased.