Impact on Christmas demand of garments due to high inflation in America and Europe

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Mumbai: The economic recession in America and Europe is having a serious impact on the exporters in Tirupur, the main garment hub of the country. Tirupur's exporters have not seen the expected Christmas and New Year demand from the US and Europe due to recession and persistently high inflation.

Tamil Nadu's Tirupur station accounts for fifty-five percent of the country's apparel exports. Global garment brands that have been buying fashion garments for eight to ten dollars per item are opting for cheaper garments at two to three dollars this time, Tirupur exporters claim.

Apart from the Russia-Ukraine war, the US and Europe are currently facing high inflation due to supply disruptions, and interest rates are currently running high. Earlier, such a situation was seen during the financial crisis of 2008-09, said an official of Tirupur Exporters Association.

Not only America and Europe, but also from Australia, the demand for Christmas related garments is seen to be sluggish. Demand related to Christmas and New Year is seen to be 40 percent less this year.

Usually orders start coming in from September for Christmas, but this year the situation is fragile, he added.

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