Home / Knowledge / News / Apparel/Garments / Indian apparel sector may miss US$18bn export target: AEPC
Indian apparel sector may miss US$18bn export target: AEPC
15
Oct '12
Mr. A Shaktivel
Mr. A Shaktivel
Even as Indian apparel exporters are trying to expand in new markets with diversified products, the Apparel Export Promotion Council (AEPC) says it would not be easy for the sector to achieve the US$ 18 billion apparel export target set for the current fiscal by the Textile Ministry.
 
AEPC Chairman A Shaktivel said the contraction in exports to the EU would hold back Indian exporters from achieving the US$ 18 billion export target.  
 
EU accounts for 50 percent of India’s apparel exports, while the US and other countries have a 26 percent and 24 percent share, respectively.
 
During the first five months of the current year, India’s apparel exports slumped 12 percent to US$ 5.26 billion.
 
However, the Council is optimistic of achieving US$ 16.5-17 billion levels in exports during current fiscal, Mr. Shaktivel said. 
 
He said owing to business downtrend in EU, Indian apparel exports to that market would decline by 10 percent and hence exporters should focus more on the US and other markets.
 
As a part of their efforts to explore new markets with varied products, AEPC delegations visited countries like Japan, South Africa and Israel, which predominantly sourced their apparel requirements, around 90-98 percent from China, and around 0.5-1 percent from India, Mr. Shaktivel said. 
 
He added that they have met good response from these markets, following which they even plan to send delegations to Panama, Russia and Columbia, where they eye great potential for promoting diverse apparel ranges.
 
On allowing FDI in multi-brand retail in India and its effect on the domestic apparel industry, the AEPC chief said though small traders would be hit by this, on a wider scale it would prove advantageous for the sector, as more orders would flow from major international players, following a rise in their demand. 
 
AEPC is also trying to convince the Textiles Minister Anand Sharma regarding the need for inking a Free Trade Agreement with the EU, to enable Indian producers better compete with other rival countries like Bangladesh, which enjoys 10 percent duty benefit owing to such agreement, he said.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search