ADD ANI AS A TRUSTED SOURCE
googleads
ANI Logo
Menu
Business

Indian apparel exports to be on growth path: ICRA

New Delhi [India], January 14 (ANI): India's apparel exports are expected to revert to a growth trajectory in FY2022 with a recovery in demand in key markets of the United States and the European Union, according to investment information firm ICRA.

ANI Jan 14, 2021 18:00 IST googleads

But the risk of a fresh wave and surge in infections remains

New Delhi [India], January 14 (ANI): India's apparel exports are expected to revert to a growth trajectory in FY2022 with a recovery in demand in key markets of the United States and the European Union, according to investment information firm ICRA.
The export demand will partly benefit from the low base effect and is likely to be supported by the increasing the focus of large buyers on diversifying their sourcing base beyond China.
But the risk of a fresh wave and surge in infections remains, said ICRA.
Following a contraction in the calendar year 2020, global apparel trade is expected to revert to pre-Covid levels in CY2021 and grow at a muted pace of one to two per cent per annum in the near to medium term in line with the past five years.
Growth in the near term is likely to be driven by volumes as realisations may decline amid softer raw material prices, downtrading, and shift in preference towards lower-value apparel.
On the other hand, said ICRA, domestic apparel demand is estimated to have reverted to pre-Covid levels in recent months supported by pent-up demand and festive buying.
Even as sustained recovery in offline retail to normal levels may take longer, domestic apparel players are expected to report a healthy recovery in FY2022.
Growth in some segments like formal wear and party wear is likely to remain lower as compared to other essential product categories.
With improved demand from the downstream segments, fabric production is also likely to revert to growth in FY2022.
Within fabrics, cotton knitted fabrics and blended knitted fabrics are likely to perform better, given the shift being witnessed in consumer usage and preferences in favour of casual, active, and loungewear. (ANI)

Get the App

What to Read Next

Business

Piyush Goyal meets global industry leaders to deepen trade ties

Piyush Goyal meets global industry leaders to deepen trade ties

The meetings were inclined towards bolstering India's manufacturing capabilities and deepening its integration into global supply chains. The discussions focused on expanding investment partnerships and enhancing India's role as a critical hub in the Indo-Pacific region.

Read More
Business

India market "relatively resilient" compared to its Asian peers

India market

The deepening conflict in West Asia has placed the Indian economy and the broader Asian region in the "eye of the storm," as supply chain disruptions and surging energy costs threaten to trigger a significant negative growth shock.

Read More
Business

Govt Urges Citizens to Avoid Panic Booking

Govt Urges Citizens to Avoid Panic Booking

Amid global energy disruptions following the closure of the Strait of Hormuz, the government has assured that the domestic supply of LPG, petrol, diesel, kerosene, and natural gas remains stable, while citizens are urged to avoid panic booking and conserve fuel, said Sujata Sharma, Joint Secretary of the Ministry of Petroleum and Natural Gas, today.

Read More
Business

India Emerging as Stable Investment Anchor in Turbulent Global

India Emerging as Stable Investment Anchor in Turbulent Global

Mumbai (Maharashtra) [India], March 12: As military conflict in West Asia disrupts energy supplies through the Strait of Hormuz and global liquidity tightens, leading investors, policymakers and capital markets leaders gathered at IGF Mumbai 2026: Catalysing Capital to assess India's position in an increasingly fragmented global economy.

Read More
Business

India pushes for green ship recycling, euro-compliant yards

India pushes for green ship recycling, euro-compliant yards

India is rapidly expanding its ship recycling sector and upgrading shipbreaking yards to meet European environmental standards, as part of a broader effort to strengthen its maritime industry and reduce logistics costs, Sushant Kumar Purohit, Chairperson of VO Chidambaranar Port Authority, said today.

Read More
Business

Finkurve Financial Services Limited (Arvog)

Finkurve Financial Services Limited (Arvog)

Mumbai (Maharashtra) [India], March 12: Finkurve Financial Services Limited (BSE: 508954), among leading Tech-first Gold Loan NBFC, announced that the Company has crossed Rs. 1,035 crore+ in Assets Under Management (AUM) surged by nearly 10x compared to FY23, marking a significant milestone in the company's growth trajectory within India's secured lending ecosystem.

Read More
Business

Gold Winner Expands Legacy with Launch of New Edible Oil Range

Gold Winner Expands Legacy with Launch of New Edible Oil Range

Chennai (Tamil Nadu) [India], March 12: Gold Winner, one of South India's most trusted edible oil brands, is expanding its legacy of quality and reliability with the launch of four traditional oils -- Gold Winner Groundnut Oil, Gold Winner Gingelly Oil, Gold Winner Coconut Oil, and Gold Winner Rice Bran Oil. With this expansion, the brand aims to position itself as the single trusted name for all cooking oil needs in Indian households.

Read More
Business

With India’s Fasteners Market Projected at USD 17 Billion by 2034

With India’s Fasteners Market Projected at USD 17 Billion by 2034

New Delhi [India], March 12: The Indian fasteners market continues to demonstrate strong momentum, having reached USD 11.2 billion in 2025 and is projected by the IMARC Group to surge to USD 17.0 billion by 2034, reflecting a robust CAGR of 4.67% during 2026-2034. This dynamic growth is fueled by the expansion of the automotive, construction, and industrial sectors, as well as increasing demand for high-performance, lightweight fasteners, and strategic government initiatives such as "Make in India." In this thriving context and to boost domestic manufacturing, Messe Stuttgart India has launched FASTNEX 2027 with its highly anticipated Signature Edition, set to take place from 8th to 10th February 2027 at the Bombay Exhibition Centre, Mumbai. The event stands as a crucial platform for industry professionals to showcase innovative products, access market intelligence, foster collaborations, and expand their business networks, ultimately contributing to the overall advancement of India's manufacturing sector.

Read More
Business

India: CPI inflation rises to 3.21% in February 2026

India: CPI inflation rises to 3.21% in February 2026

India's Consumer Price Index or retail inflation in February was recorded at 3.21 per cent, official data showed on Thursday.

Read More
Business

Delhi expected to witness significant rise in electricity demand

Delhi expected to witness significant rise in electricity demand

Delhi is expected to witness another significant rise in electricity demand this summer. According to the State Load Despatch Centre (SLDC), last year, Delhi's peak power demand had clocked 8442 MW. This year, it is likely to cross 9000 MW. The expected peak of over 9000 MW represents an increase of over 300 per cent compared to the 2879 MW recorded in 2002. Current trends suggest that Delhi's peak power demand is likely to cross the 10,000 MW mark by 2028-2029.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.