Garment industry weak because of duties levied by developed countries: Expert

Its weak cues all around for Indo Count Industries as readymade textile exports have fallen 8 percent. The company has also been facing problems of negative sales growth; margins have been falling while demand from the United States has been on the decline.

In an interview to CNBC-TV18, Kailash Lalpuria, ED of Indo Count Industries and Ganesh Kumar Gupta, President of Federation of Indian Export Organisations spoke at length about the garment industry trends.

Gupta said that the garment industry is weak because of duties levied by developed countries.

Lalpuria said we have seen healthy retail sales in US and European Union (EU).