Despite rupee appreciations, Indian textile and apparel exports to the US for 2007 showed a marginal increase in value terms over the previous year, even as unit value realization came down. The US comprises 25-30% of Indian textile and apparel exports and so growth in exports to the US means exporters may have been able to successfully handle the rupee appreciation. The steep rupee appreciation of last year had hit textile exporters earnings in rupee terms and had blunted their competitive edge in international market. As the crisis deepened many exporters were finding it tough to gamer new business contracts, leading to decline in textile export figures in several months of the last year. The scene, however, seems to have improved as the year closed.
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