The industry’s focus on quality products and sustainable manufacturing practices is helping to increase India’s ready-made garment exports, which rose by 35 per cent in October, AEPC said on Friday.
Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri also said that exports to countries with which India has a free trade agreement (FTA), such as Korea, Japan and Australia, are helping to increase its share of exports.
Ready-made garment exports increased by 35 per cent year-on-year to $1.22 billion in the last month. During April-October this fiscal, the shipment grew by 11.6 per cent to $8.73 billion.
Sekhri attributed this growth to the industry’s emphasis on quality, sustainability and affordability, which has boosted demand from international buyers.
“Our constant endeavour to be sustainable and affordable is a great attraction for international buyers which is reflected in recent months’ exports growth,” the Chairman said.
Looking ahead, he said, India will host Bharat Tex 2025, its largest textile fair, which aims to showcase the country’s growing potential.
Sekhri added that international buyers are eager to source from India, and recent roadshows and roundtables have generated positive responses.
Mithileshwar Thakur, Secretary General of AEPC, highlighted that India’s apparel sector is well-positioned as global buyers search for alternatives to Bangladesh and China.
He emphasised that government support through funding, training and investment is essential to help the industry continue growing, given the current disruptions in trade routes and higher costs due to global events.
“We have requested for not only the continuation of the interest equalisation scheme but also enhancement of the interest equalisation rate to 5 per cent for at least five years to offset high cost of capital,” Thakur said.
