Home / Knowledge / News / Apparel/Garments / India's apparel exports to touch US$ 17bn in FY'14: AEPC
India's apparel exports to touch US$ 17bn in FY'14: AEPC
01
Oct '13
The garment industry of India is expected to achieve the target of US$ 17 billion in exports for the current fiscal year as the outbound shipments of apparel have already touched US$ 5 billion during the first four months of 2013-14, according to the Apparel Export Promotion Council (AEPC).
 
At the 34th Annual General Meeting (AGM) of the council, Mr. A Sakthivel, chairman of AEPC, said the Government has fixed a target of US$ 17 billion for garment exports, and if the same momentum of growth in exports is continued and major recommendations of AEPC are met by the Government, the target is quite possible to achieve.
 
Mr. Sakthivel said that the growth in apparel exports is attributed to the recovery of the US economy, which is the country’s second largest export destination, in addition to the increasing demands from emerging markets such as Latin America and Africa, he added.
 
The AEPC chairman said apparel exports have picked up really fast during the first four months of the current fiscal as compared to the last fiscal.
 
During April to July 2013-14, apparel exports have increased by 13 percent year-on-year to US$ 5 billion, he added. 
 
Further, the AEPC chairman said that despite the decline in the share of traditional market in India's total apparel exports to world in 2012-13, the share of non-traditional markets during the last fiscal has increased to from 30 percent to 34 percent.
 
According to AEPC, 66 percent of India’s total exports are destined for countries in the European Union and the US.
 
During the meeting, the AEPC also conducted a discussion for enhancing the country’s apparel exports, where representatives of the body suggested various proposals, including import of synthetic fabrics at a lower duty of 5 percent during the 12th Five-Year Plan from the existing 21 percent, and a separate proposal for getting export credit at the fixed rate of 7.5 percent as done in the past.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Courtesy: Messe Frankfurt

Textiles | On 27th Jul 2017

Intertextile Shanghai to see buyers from 100 countries

Suppliers from over 25 countries and trade buyers from around 100...

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Igor Chapurin
Chapurin

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

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X