US Economic Slowdown Hampers Noida-Based Apparel Exporters
The buyers from US have asked them to ship the consignments during December-January period which were supposed to leave during September. This has led to creating financial problems for all the apparel exporters from Noida
The US economic slowdown has hampered Noida-based apparel exporters business. According to them the payments of Rs 3,000 crore have been paused due to US buyers demanding them to delay shipments.
The exporters said that the buyers from US have asked them to ship the consignments during December-January period which were supposed to leave during September.
The apparel exporters from Noida, generally make fashionable apparels ranging between 8-10 dollar per piece. The case differs from those like Tirupur exporters who make basic items for overseas markets ranging between 4-5 dollar per piece. The president of Noida Apparel Export Cluster (NAEC), Lalit Thukral said that orders from the US, along with Europe have softened. The US forms the biggest market for apparel exporters. The buyers did not pick up the orders which were supposed to leave during September. This has led to creating financial problems for all the apparel exporters from Noida.