India’s apparel exports rise 32 percent in Q1 to $4.5 billion
India’s apparel exports rose by 32 percent during the April-June quarter to$4.5 billion as against $3.4 billion it reported in the year-ago period, according to data shared by the Apparel Export Promotion Council (AEPC).
The apparel exports from the country during the financial year 2021-22 stood at $16.2 billion and expected to surpass that number during the current fiscal year.
AEPC feels that the free trade agreements with countries including UAE, Australia and the UK will help it gain a larger market share in these markets as it will neutralise the advantage the country’s competitors use to enjoy in some of the important markets.
Commenting on the increase in exports, Naren Goenka, chairman AEPC in a statement said, “We have to be poised to grab the opportunity by ramping up our production capacity, getting into the MMF (man-made fibre) segment. We must actively lower our cost of production and work on meeting the global standards. To match the growing global demand, our scale must be larger, and skills have to be matched,” Goenka said.
“The council is making efforts towards promoting brand India at various global platforms as a trusted supplier by showcasing its strength on sustainability, circularity and ethical sourcing,” he added.
Founded in 1978, AEPC is the official body of apparel exporters in India which helps in the promotion and facilitation of garment manufacturing and their exports.
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