India’s RMG exports rise by 10% in October ’20

As per the data released by the Ministry of Commerce, India registered a massive increase in its apparel exports in October ’20 both on monthly as well as yearly basis.

A report by the Apparel Resources shows, India’s RMG exports increased by 10 per cent in October to $ 1.17 billion from October ’19. Similarly, India’s apparel shipments to the world also surged by 79.67 per cent on a monthly basis in October as compared to September when it shipped apparels worth just US $ 651.16 million.

However, India apparel exports during April-October ’20 period declined by 29.41 per cent from the same period of 2019 to $ 6 billion.

Though the increase in exports signals an export recovery in all major export destinations, a fresh wave of lockdown across major countries threatens to derail India’s exports in coming months.