Having pegged apparel exports worth $ 11 billion (Rs 49,170 crore approx.), the Apparel Export Promotion Council (AEPC) has now set a target of $ 14 billion (Rs 62,580 crore approx.) for the current year.
For this, the apparel exports body is banking on the mega event Indian International Garment Fair (IIGF).
In a bid to boost exports further, AEPC is also looking to create fresh demand from non-conventional markets like Russia, Turkey, Japan and South America, said Premal Udani, chairman, AEPC.
"Conventional markets like the US and Europe have saturated. Plus, apparel exporters need to insulate themselves from slowdown by moving away from conventional market. Hence, we are bringing in buyers from non-conventional markets like Russia, Turkey, Japan and South America at the event to boost fresh demand," said Udani.
Arranged twice in a year, this mega event for promotes Indian garment industry on a global platter.
The 47th IIGF will see close to 2,000 buyers and 317 exhibitors from all over the world will be participating in this fair.
The mega fair will create a platform for apparel industry key leaders, subject experts and Textile Ministry delegates to share their views on growing avenues for Indian garments.
According to Udani, while exports have been rising by 30 per cent in the first two months of the current financial year, the same needs further boost.
"On one hand, apparel exporters need government intervention in terms of introduction of interest subvention to boost exports. On the other, we are trying to bring in buyers from non-conventional markets during the three-day event to create fresh demand. Also, we are looking at grabbing some share of business from China which has been losing out on rising labour costs," said Udani.
