Weak U.S. And European Markets, India Clothing Exports Affected

In June, India.

Exports fell by 10.5% over the same period last year, to $1 billion 100 million, due to the weakness of the US and European markets, according to relevant departments.

According to the data provided by the India garment export promotion association, exports amounted to US $1 billion 200 million in June last year.

The India Garment Export Promotion Association's Acting Secretary General Wei Jai Ma Tara said that the demand in the US and European markets was low, and buyers made very few orders and did not own stocks.

Mathura said exporters expect the US market to rise in the coming months.

The United States and the European Union account for 65% of India's total clothing exports.

In 4-6 months of this year, clothing exports in India dropped by 12% over the same period last year.

To reduce dependence on Western markets, exporters are diversifying new markets, such as Israel, Russia and South Africa.

In fiscal year 2011-12, clothing exports in India increased by about 18% compared to the same period last year, reaching 13 billion 600 million US dollars.