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India's largest apparel trade show opens in Mumbai
02
Jul '13
The 57th National Garment Fair, the largest apparel trade show in India, opened in the country’s commercial capital of Mumbai.
 
Around 550 exhibitors representing 640 brands are participating in the three-day fair, showcasing their latest festive collections.
 
For the first time, each product category, i.e. Men’s, Women’s and Kids, are shown in 3 separate halls.
 
Speaking to reporters after inaugurating the garment fair, Textiles Commissioner AB Joshi said the removal of 10 percent excise duty on branded garments by the Union Government has provided big boost to the sector.
 
India’s domestic apparel industry is estimated to be worth around Rs. 2,000 billion, and this figure would double over the next five years, if the Government reduces interest rates and eases administrative procedures, Rahul Mehta, president of The Clothing Manufacturers’ Association of India (CMAI) said.
 
India’s apparel exports have grown in the first two months of the current fiscal year 2013-14 and the US$ 17 billion target set for the financial year seems achievable, Mr. Mehta said.
 
He cited the weak rupee, slowdown in Bangladesh and China, opening of non-traditional markets, increase in demand from the US, and the possibility of India-EU free trade agreement (FTA) as the reasons that work in favour of boosting the country’s clothing exports.
 

Fibre2fashion News Desk - India

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