India's apparel sector is on course to achieving its export target of US$ 14 billion during the current fiscal, in spite of economic slump being witnessed in several European countries and the US facing debt crisis, raising fears of yet another global economic recession.
Addressing the Textile, Apparels and Garment (TAG) Conference in Mumbai, S Balaraju, Joint Textile Commissioner, Ministry of Textiles, said Indian apparel industry is doing well in spite of global economic slowdown and will meet its export target of US$ 14 billion set for fiscal 2011-12.
Mr. Balaraju informed that the Ministry of Textiles has drafted the National Fibre Policy. He added that the common compliance code has also been drafted, and it aims to make India a global benchmark for social compliance in garment production and exports.
Federation of Indian Chambers of Commerce and Industry (FICCI) Apparel Committee Chairman, Premal Udani said the country's apparel sector is expected to achieve its export target, even though the sector will be affected by the global economic downturn.
Apparel exports constitute 48 percent of the total textile exports from India. Government data reveals an 8 percent decline in the country's apparel exports in September.
The TAG 2011 Conference, organized by FICCI, focused on innovation and sustainability in the textile and apparel industry. Current innovations throughout textile and apparel value chain and the growing demand and challenges of sustainability in the Indian textile and apparel industry were discussed at the Conference.
Fibre2fashion News Desk - India
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