Apparel Exports Rise 32% To $4.5 Billion During April-June
Exports rose by about 32% to $4.5 billion during April-June this fiscal as against $3.4 billion in the same period last year.
Apparel exports rose by about 32% to $4.5 billion during April-June this fiscal as against $3.40 billion in the same period last year, Apparel Export Promotion Council said on Thursday.
Addressing a meeting of the council, AEPC chairman Naren Goenka said that free trade agreements with countries including U.A.E., Australia and the U.K. will help neutralise the advantage which India's competitors use to enjoy in some of the important markets.
Apparel exports in 2021-22 stood at $16.2 billion.
"We have to be poised to grab the opportunity by ramping up our production capacity, getting into the MMF (man-made fibre) segment...We have to actively lower our cost of production and work on meeting the global standards."
"To match the growing global demand, our scale has to be larger and skills have to be matched," Goenka said.
The council requested the government to announce new Technology Upgradation Fund Scheme and production-linked incentive scheme for the apparel sector.
"The council is making efforts towards promoting brand India at various global platforms as a trusted supplier by showcasing its strength on sustainability, circularity and ethical sourcing," he added.