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India’s apparel exports have fallen for two years in a row. Estimated at $16.2 billion in FY19, the country’s apparel exports fell by 1.2% from FY18, which in turn was 4% lower than the previous year. This comes after annual average growth of 5.7% between FY10 and FY16. The reasons for the slowdown range from issues on the domestic front to slackening global demand, overall slow market scenario, fall in demand for fashion and more demand for garments with value. There are other reasons for the decline. According to CARE Ratings Ltd, “India’s apparel exports comprise mainly of cotton garments (51%), with manmade fibre accounting for around 28%. India needs to diversify its fibre base, as global consumption is diversified and MMF (man-made fibre) holds a much larger share as compared to cotton. Read More at www.perfectsourcing.net

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