– Apparel exports records high growth despite global headwinds: Chairman AEPC
– FTA countries are paving the way for market expansion and growth
New Delhi/ Gurugram: Speaking on spectacular RMG export growth, Shri Sudhir Sekhri, Chairman AEPC stated that, “India’s RMG exports have recorded high growth despite global headwinds and continued inflationary pressure. Even the major apparel exporting countries have witnessed a slowdown in the RMG export growth in recent months.”
RMG exports for the month of September 2024 has increased by 17.3% as compared to September 2023. The cumulative RMG exports for the period April- September 2024-25 is USD 7505.1 million. showing a growth of 8.5% over April-September 2023-24.
Further Chairman AEPC observed, “India is uniquely placed with the advantage of low import dependence, existence of the entire ecosystem from fibre to fashion, abundant and young labour force and therefore scope for growth is unlimited.”
Shri Sakhri informed that, “This year we will be participating in many big international fairs and will be hosting Bharat Tex again in 2025 to increase our global footprint. As a buildup to Bharat Tex 2025, we held roundtables with global brands/buying consultants. The presence of a large number of buying agents/buying consultants during the roundtables indicated their willingness to forge a stronger relationship with the Indian exporting community. We hope that this relationship will continue to grow as we engage further.” Chairman AEPC said, AEPC will be conducting international roadshows in Spain and New York this month, to showcase the best of trade, technology and tradition.
Shri Mithileshwar Thakur, Secretary General AEPC said, “Indian apparel exports is now on a high growth trajectory. We have started harnessing the untapped potential and have been logging impressive double-digit growth in RMG exports in the past few months despite geo political challenges and supply chain disruptions. It will not be an exaggeration to say that the entire world has started looking at India as a preferred sourcing destination.”
I am happy to share that we are doing exceedingly well in some of the top apparel markets. During April- August 2024 RMG exports to the USA registered 9.7% growth, UK 6.1%, Germany 7.2%, Spain 16% and Netherlands 27.8%. Growth has been witnessed in FTA partner countries also, with exports to South Korea registering a jump of 17.3%, Japan 8.5%, Australia 9.3%, Mauritius 13%, etc. during the period April- August 2024. Quite clearly FTA partner countries are now paving the way for RMG market expansion and growth, SG AEPC, Shri Thakur noted.
