Continuing the dismal performance, India’s RMG exports plunged 22.10 per cent in July ’20 to clock US $ 1.06 billion as against US $ 1.36 billion in the same month of 2019.
However, the recently released data by DGCI&S says that fall noted in rupee terms was 15.09 per cent and the RMG export valued Rs.18,928.48 crore.
It’s worth mentioning here that India started its FY ’21 on a negative note amidst COVID-19 and declined by 62.23 per cent during April-June ’20 quarter and hit Rs. 10,955 crore.
The positive aspect is that India noted month-over-month (M-o-M) growth in July ’20. As compared to June ’20 export figures, which is US $ 803.37 million, India grew by 32.33 per cent in July ’20.
The M-o-M growth in rupee term was 29.41 per cent as, in June ’20, India’s shipment of RMG stood at Rs. 6,083.70 crore as against Rs. 7,973 crore in July ’20.
This M-o-M growth has been continuing for consecutive 3 months now as markets world over have started opening and exporters have been clearing all pending orders, while trying to book new orders.
Source :- https://in.apparelresources.com/