TROUBLE BREWS

New Delhi, Nov. 30: Buyers of Indian goods in the US and Europe have cancelled their planned trips to the country because of the terror attacks in Mumbai.

“Several garment exporters have informed me that a number of buyers from the US and Europe have either cancelled or postponed their trips to India on account of the terror attacks,” Ganesh Kumar Singh, president of the Federation of Indian Export Organisation (Fieo), told The Telegraph.

According to Kumar, the buyers visit India to interact with exporters before confirming orders. They also visit the units to check the quality of products and negotiate prices before finalising the contracts.

Mumbai is the headquarters of many export houses, and international clients prefer to put up at five-star hotels such as the Taj and the Oberoi, Kumar said.

The Fieo head, however, refused to name the buyers who have cancelled their trips.

Eddie Bauer, Cache, Talbots, J.Jill, Gap Inc, Foot Locker, Goodbye Levitz, Home Depot, Macy’s, Pep Boys, JCPenney, Lowe and Office Depot are some of the major international retailers importing from India.

According to Rakesh Vaid, chairman of the Apparel Export Promotion Council, export of readymade garments is likely to fall 24 per cent short of the target of $11.62 billion in the current fiscal year.