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US slowdown hits Noida apparel companies

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NOIDA : The economic slowdown in the US has hard hit apparel exporters from Noida, whose payments of Rs 3,000 crore have got stuck as buyers from the US have asked them to delay shipments. The exporters said the US buyers have asked them to ship the consignments that were supposed to leave in September during December-January period.

Noida-based apparel exporters generally make fashionable apparels priced at $8-10 per piece, unlike Tirupur exporters who make basic items in the range of $4-5 per piece for overseas markets.

“Orders have slowed down from the US and also from Europe. The US is the biggest market for us. The buyers were not keen to pick up the orders that were supposed to leave in the month of September. This has created a lot of financial problems for the apparel exporters based in Noida,” said Lalit Thukral, PresidentNoida Apparel Export Cluster (NAEC).

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