Apparel exports logged double-digit growth in September, which indicates the segment is on course to a V-shaped recovery, apparel exporters’ body AEPC said on Saturday.
Apparel Export Promotion Council (AEPC) chairman A. Sakthivel said apparel exports rose for the first time this fiscal in September and the steep recovery from 90% fall in April to 10% rise last month “corroborates our belief that the apparel sector is already on the path of V-shaped recovery.”
He added that steps taken by the government are helping the sector to deal with the problems related to the pandemic. Exports saw a growth of 10.2% in September 2020 to $1.2 billion as compared with $1.079 billion in the same month a year earlier. “We believe this turnaround with a positive growth of more than 10% will only increase as we go forward in the second half of the fiscal,” he added.