Aepc

Readymade garment exports rise 12% in Aug despite global challenges

The country's ready-made garment exports (RMG) in August rose by about 12 per cent to USD 1.26 billion despite global headwinds and challenges such as high logistic cost, according to the commerce ministry data. Cumulatively, RMG exports during the April-August period of 2024-25 grew by 7.12 per cent to USD 6.39 billion. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that exports are keeping the growth momentum despite global headwinds, persisting Red Sea crisis and other challenges such as high logistic costs. "Growing at an average of 7.12 per cent in the last five months (April to August 2024-25), the RMG exports have bucked the trend of falling merchandise exports which touched a 13-month low in August," he said. He added that with focus on product quality as well as environmental and social compliance, the industry is poised to take a leap into high growth trajectory and be a major global player of garment exports. "I am hopeful that the growth momentum w

Competitiveness of apparel exporters ushered with sustainability: AEPC

Apparel exporters body AEPC on Wednesday said the industry is working on sustainability production practices as it would help enhance the competitiveness of the sector in the international market. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said the mantra given by prime minister Narendra Modi to boost textiles exports through 5F - Farm to Fiber, Fiber to Factory, Factory to Fashion, Fashion to Foreign - will energise the textiles export sector. Addressing a gathering after inaugurating Bharat Tex 2024, one of the largest-ever global textile events organised in the country, on Monday, the prime minister promised all support to the textiles sector, stressing that it will play a crucial role in making India a developed nation by 2047, when India will complete hundred years of independence. Sekhri said the expo will help promote the brand India in the international markets. "For such a long time we did not have an international show of such a global standard and ..

Extension of RoSCTL scheme for 3 years a dire necessity: AEPC tells govt

Apex body for apparel exporters AEPC on Thursday urged the government to extend rebate scheme, RoSCTL, for three more years, stating that it has become a "dire" necessity, given the current global economic uncertainties. The Apparel Export Promotion Council (AEPC) said market sentiments have touched an "all-time" low and the traditional markets of the US and the European Union (EU) are facing unprecedented recessionary trends. In this backdrop, "the extension of this scheme RoSCTL (Rebate of State and Central Taxes and Levies) beyond 31st March, 2024 has become a dire necessity," AEPC Naren Goenka said in a statement. "This scheme (RoSCTL) has helped the apparel industry immensely to plan the business on a consistent basis while staying competitive," he added. He also asked the industry to focus on innovation and attracting Foreign Direct Investments (FDI). "At present, the apparel industry receives a very low level of FDI, although 100 per cent overseas investment is allowed in t

AEPC sets $40 bn exports target by 2030, aims to explore new destinations

Apparel exports are expected to reach USD 40 billion by 2030 on account of initiatives such as exploring new destinations and fostering strategic partnerships, AEPC said on Friday. Apparel Export Promotion Council of India (AEPC) Chairman Naren Goenka said that to achieve this target, the council will focus on innovation, expanding market and product basket, practice sustainability and responsible business practices. "We have set an ambitious goal of achieving apparel exports of USD 40 billion by the year 2030. This target, aptly named '40 by 30' reflects our commitment to reaching new heights and pushing our limits in the ongoing decade," he said in a statement. He also said that Commerce and Industry and Textiles Minister Piyush Goyal will present exports awards to ready-made garment exporters on December 9 here. The awards recognize contributions made by Indian apparel exporters in building modern enterprises. "Apart from adding to the growth of our international trade, these .

India offers world complete value chain solution in apparel sector: AEPC

There are huge opportunities in the textiles sector and India offers to the world a complete value chain solution from farm to fashion in the apparel segment, AEPC chairman Naren Goenka said on Tuesday. He also said that India International Garment Fair (IIGF) at Noida provides a direct marketing platform to MSME exporters from across the country bringing together about 300 exhibitors and more than 2,500 overseas buyers and buying agents. It is the biggest platform in Asia under one roof wherein Micro, Small and Medium Enterprises (MSME) showcase latest garment and fashion accessories trends to the world and begin the order booking process. The Apparel Export Promotion Council of India (AEPC) chairman said that the platform provides huge opportunities considering the fact that the global apparel market is expected to reach USD 1.9 trillion in 2025. "India offers to the world a complete value chain solution from farm to fashion giving us a competitive edge by shortened lead times to

New foreign trade policy may not bank on incentives to boost exports

Set to be unveiled on Friday, it is likely to focus on export hubs, e-com

Apparel sector to contribute in taking exports to $1 trn by 2030: AEPC

The labour intensive apparel sector will contribute significantly in taking the country's merchandise exports to USD one trillion by 2030, AEPC said on Thursday. The Apparel Export Promotion Council (AEPC) said that the incentives in the Budget will help the apparel industry focus on market and product diversification. The council chairman Naren Goenka said that providing an ease-of-doing-export environment would enhance the sector's competitiveness. "The government's key initiatives such as trade agreement with Australia and the UAE and increase in funds will help us to focus on market diversification and product diversification," he said. AEPC promoted global reach of Indian apparel exports to more than 25 export destinations through its export promotion activities in 2022-23. "As we look forward to the 46th year of this council, I can say with confidence that, in the coming years, we will be able to support the government's efforts to make India a USD 2 trillion (USD 1 trillion

Schemes for MSMEs in Budget 2023 to help boost exports, says AEPC

Various schemes, including a revamped credit guarantee scheme, announced in the Budget to support MSMEs and exporters will help promote the country's exports, AEPC said on Thursday. Finance Minister Nirmala Sitharaman in her Budget speech said a revamped credit guarantee scheme for MSMEs with an outlay of Rs 9,000 crore will be launched from April 1. Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said that the focus on infrastructure, investment, green growth, youth power and inclusive development will boost India's journey to be the fastest-growing robust economy. The announcement to cover more sectors under the PLI scheme and support to the MSME sector will help thrust exports and investment in the country. Rs 9,000-crore corpus for a revamped credit guarantee scheme will surely alleviate the stress of small and medium enterprises in India, he said. As desired by exporters, the increased allocation for the interest equalization (subsidy) scheme from Rs 2,376 crore

Japan offers huge business opportunities for Indian apparel exporters: AEPC

Japan offers huge business opportunities for Indian apparel exporters and the industry should explore that market, AEPC said on Saturday

Apparel exports arrest fall, rise by 11.7 pc in Nov: AEPC Chairman

Apparel exports in November rose by 11.7 per cent to about USD 1.2 billion after declining for the last few months amid global challenges, export promotion body AEPC said on Friday. Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said that exports of ready-made garments (RMG) from India witnessed a rough patch in the past few months since most of the traditional markets such as the UK, the EU and the US have been witnessing recession and global headwinds, leading to falling demand in these countries. Inflation and rising costs of raw material and freight, aggravated by the Russia-Ukraine war, added to the burden of exporters, he said. "However, after a few months of slip, RMG exports have again turned positive signalling the resilience of the industry to adjust to the prevailing challenges," Goenka added. He also said that the target for apparel exports for 2022-23 is USD 17.6 billion against which "we have been able to achieve more than USD 10 billion during April -

India-UAE free trade pact will boost exports of garment sector: AEPC

The free trade agreement between India and the UAE is giving duty free access to the garment sector and it will help increase share of domestic exports in that country, AEPC said in Tuesday. The Apparel Export Promotion Council (AEPC) said that over 20 domestic exporters are participating in the International Apparel and Textile Fair (IATF) in Dubai to showcase their products. Chairman Fair and Exhibitions AEPC Ashok Rajani said India is the second largest supplier of ready-made garments to the UAE after China. "The UAE has traditionally been the topmost trading partner for Indian garment exports. With signing of the UAE-India CEPA agreement giving duty free access to Indian garment exports, this share is expected to increase further," he said. CEPA stands for the Comprehensive Economic Partnership Agreement. Talking about the exhibition, he said exporters are aiming to showcase the best of India's apparel designs and styles in line with the latest fashion trends in a wide range o

India-Australia trade pact to help boost garment exports, says AEPC

Implementation of the free trade agreement between India and Australia will help boost garment exports, AEPC said on Wednesday. The agreement was approved by the Australian Parliament on Wednesday, paving the way for its rollout. Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said the duty-free access for the sector to Australia under the trade pact will bring domestic exporters at par with global competitors and make local products competitive. "This will also provide a good opportunity for the Australian companies to embrace China plus one policy," he said. Recently, an AEPC delegation participated in the International Sourcing Expo in Australia. Goenka said that the Australian companies are eagerly waiting to forge stronger ties and source garment and textiles products from India and this deal will be a shot in the arm for them. "AEPC will be facilitating the Indian companies to connect with the right partners through its export promotion initiatives," he ...

Amid global headwinds, Indian exporters hope to tide over slowdown

Say India is better placed even as exports decline

Making efforts to promote brand India at global platforms: AEPC

Exports of ready-made garments during 2021-22 stood at $16 billion, an increase 30.4 per cent over previous year

Sustainability is now counted as major pillar of export business: AEPC

India has recently launched Project SURE - Sustainable Resolution - a firm commitment from the industry to move towards fashion that contributes to a clean environment

Looking at new markets to push apparel exports: AEPC chairman

AEPC said it is looking at new markets such as Latin America, Australia and Israel to push the country's exports

Strong demand for Indian apparel to further push exports: AEPC

Export of readymade garments saw an increase of 22 per cent to $1.46 billion in December 2021 from $1.20 billion in the same month of 2020

Apparel exports to major markets increasing at healthy pace: AEPC

Apparel exports to major markets such as US, Europe, others are recording healthy growth and sector would contribute significantly in achieving India's $400 bn exports target for current fiscal year

Apparel exports rise 10.22 % to $1,190 mn in Sept as sector sees recovery

Industry representatives believe this is an indication that the sector has begun its V-shaped recovery and the situation would get better

Apparel body says removal of export curb on N-95 masks to help boost sector

The government removed export curbs on N-95 masks, which are in demand due to Covid-19 pandemic, with a view to promoting outbound shipments of the product