Apparel Exports

Uniqlo criticised in China after CEO's Xinjiang comments in BBC's interview

The issue of sourcing from Xinjiang, where rights groups and the U.S. government accuse China of abuses against the Uyghur population, has been a geopolitical minefield for foreign firms with a large

Focus on quality, sustainable manufacturing help boost exports: AEPC

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 USD 1.22 billion in the last month. During April-October this fiscal, the shipment grew by 11.6 per cent to USD 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 hos

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

Apparel industry needs to focus on synthetic fabrics to boost exports: GTRI

The Global Trade Research Initiative (GTRI) said that due to weak synthetics, India's apparel industry is a horse running with one leg tied

Gokaldas Exports to acquire Matrix Clothing's apparel biz for Rs 489 cr

Readymade garment manufacturer and exporter Gokaldas Exports (GEL) on Friday said it has signed a definitive agreement to acquire the apparel business of Matrix Clothing for an enterprise value of Rs 489 crore. Through this deal, GEL will get access to the knit apparel business segments, a mutually exclusive global customer base, greater access to European and the UK markets, geographical diversification and low-cost capacity expansion potential in the future, according to a statement. GEL inked a pact with Matrix Clothing Pvt Ltd (MCPL) to acquire 100 per cent of the equity share capital of Matrix Design & Industries for an enterprise value of Rs 489 crore, out of which Rs 247.5 crore is being paid by way of preferential allotment of shares of Gokaldas Exports through a share swap, the company said in the statement. Matrix Clothing Group is a manufacturer of high-quality knitwear apparel for renowned brands with major geographical exposure to Europe, the UK, and North ...

Govt okays continuation of apparel exports incentive scheme till Mar 2026

The government on Thursday approved the continuation of an export incentive scheme - RoSCTL - for apparel, garments and made-ups up to March 31, 2026. The Rebate of State and Central Taxes and Levies (RoSCTL) scheme is aimed at compensating for the state and central taxes and levies in addition to the rebate provided under duty drawback scheme on export of apparel/garments and made-ups. "The Union Cabinet chaired by Prime Minister Narendra Modi approved the continuation of scheme for RoSCTL for export of apparel/garments and made-ups up to March 31, 2026," an official statement said. It said that the move will provide a stable policy regime which is essential for long-term trade planning, more so in the textiles sector where orders can be placed in advance for long-term delivery. "The continuation of RoSCTL will ensure predictability and stability in policy regime, help remove the burden of taxes and levies and provide level-playing field on the principle that goods are exported a

Apparel exporters seek tax incentives in Budget to boost manufacturing

Apparel exporters body AEPC on Wednesday sought tax incentives such as uniformity in GST and enhanced interest subsidies to boost domestic manufacturing and India's outbound shipments. The Apparel Export Promotion Council (AEPC) asked to provide tax concessions to apparel manufacturers adopting Environmental, Social, and Corporate Governance (ESG) and other international quality standards and compliances. The council also sought budgetary support for the branding and marketing of made-in-India products. The Budget is scheduled to be presented on February 1. The council said that interest equalisation rates were revised downward from 3 to 2 per cent for non-MSME (Micro, Small and Medium Enterprises) manufacturer exporters under the interest equalisation scheme on pre-and post-shipment export credit. "High cost of capital has been a major bottleneck for the exporting community. AEPC has requested the government to increase the rates under the scheme to 5 per cent for all the apparel .

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

Gokaldas Exports soars 6%, nears record high on hopes of biz revival in H2

The management said they are optimistic about revival of the business in H2FY24, and are bullish on the long-term prospects of the company

Japan has immense opportunities for Indian apparel exporters: AEPC

Decline in Chinese garment exports to Japan provides an immense opportunity for the Indian apparel industry to boost shipments to the island nation, AEPC said on Wednesday. The Apparel Export Promotion Council (AEPC) said a strong Indian garment industry with its unique offerings has a huge scope for Japanese trading companies to source from India. Members of the council are participating in the 12th edition of the India Tex Trends Fair in Tokyo. Speaking at the inauguration of the fair, AEPC Chairman Naren Goenka said over 180 Indian exhibitors are participating in the fair. Apparel imports into Japan have witnessed a positive mark in the last three years. Japan's total import from the world, which was USD 28.49 billion in 2018, has now risen to USD 46.72 billion, he said adding Japan is the fourth largest garment importer in the world after the US, Germany and France. Out of the total garment import of USD 23 billion by Japan, India's share is just one per cent. We hold a stron

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 -

High costs can dent profitability of apparel exporters in FY23: Report

Higher raw material and logistics costs could dent profit margins of apparel exporters this year, according to a report. Domestic rating agency Icra said there has been a sharp surge in yarn prices since September 2020, which has touched an all-time high during May-June this year. "We expect large-mid-scale apparel exporting companies to report a healthy growth in revenues in FY'23. While high realisations are expected to support the revenue growth for the year, higher raw material and logistics costs could dent apparel exporters' profitability for the year," Icra Senior Vice President and Group Head, Corporate Sector Ratings, Jayanta Roy said. The report also said apparel exporters are likely to witness 14-15 per cent revenue growth this fiscal. About demand, Icra stated that it has remained encouraging so far. Citing examples, it said apparel imports by the European Union and the US, which account for 55 per cent of the global apparel trade, grew by 20 per cent year-on-year in t

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

Textiles, apparel exports rise to $29.8 billion during April-December

The country's exports of textiles and apparel, including handicrafts, rose to $29.8 billion during April-December this fiscal as compared to $21.2 billion in the same period last year

India's textile and apparel exports outshine pre-Covid numbers

Export of all commodities in the segment was valued at $263 billion during the April-November period in 2021-22

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

Cabinet extends RoSCTL scheme for textile exporters till March 2024

Apparel/garments and made-ups covered under RoSCTL scheme, will not get benefits under RoDTEP scheme

India needs MMF fabric at right price to capture global apparel trade: AEPC

India has abundant supply of manmade fibre (MMF) and yarn but needs the fibre at the right price to capture greater share in the global apparel trade, AEPC said on Tuesday.

Bangladesh garment workers pray for orders as Covid pandemic shreds exports

In the financial year that ended in June, Bangladesh's garment exports totaled $27.94 billion (21.6 billion pounds), down 18% from the previous 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