Outshining the growth of knit products in the last fiscal, woven apparel exports have surged riding on the back of surged demand due to the GSP (Generalised System of Preferences) facility offered by the EU.
Under the revised EU rules of origin, apparel exporters can enjoy duty-free access to the European Union even if they source fabrics from other countries. Having fetched US $ 13.06 billion, the sub-sector of the US $ 25 billion industry registered 5 per cent growth as compared to that of the previous fiscal year, according to the Export Promotion Bureau (EPB).
During this period, the earnings from knits have risen by 3.13 per cent to US $ 12.4 billion. The knitwear manufacturing industry has struck gold in new destinations, however the volumes are too low to influence the overall exports, industry experts aver.
