Garment Exporters Concerned About Fall In Global Orders

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Garment Exporters Concerned About Fall In Global Orders
22 Mar 2022
7 min read

News Synopsis

After several global fashion brands such as Mango, Zara, H&M, etc suspended their operations in Russia after it invaded its neighbor Ukraine, Garment makers in Tirupur and Noida are witnessing a fall of 25 percent in new orders. This has become a major concern for the Garment makers. Famous Global brand Zara closed its 502 shops in Russia and also halted its online sales. H&M has also suspended its sale in Russia and Mango shut its 120 stores in the country. President of Noida Apparel Export Cluster, Lalit Thukral while expressing his concern about the fall in demand said: “Garments were routed to Russia through Spain. We are a bit worried regarding payments that have got stuck due to the Russia-Ukraine war.” The apparel export cluster in Noida reportedly has 3,000 units, with an annual turnover of nearly ₹30,000 crores.  President of Tirupur Exporters’ Association Raja Shanmugam said: “The Russia-Ukraine war and the uncertainty around it have come at a time when the garment exporters were gradually recovering from the business impact of Covid-19. The freight rates have started climbing further due to geopolitical tension and exporters are bleeding” Tripur is India’s biggest garment manufacturing hub. It currently has a 55 percent share in India’s knitwear exports.

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