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India's garment exports up 17.6% in H1 FY'15
28
Oct '14
The exports of garments and clothing accessories from India increased by 17.6 percent in the first six months of the ongoing fiscal year 2014-15 to touch US$ 8.3 billion, over the same period of the previous fiscal year, according to the Apparel Export Promotion Council (AEPC).
 
Speaking at the 22nd edition of India Market Days in Gurgaon, near New Delhi, Mr. Virender Uppal, chairman AEPC, said apparel exports from India are on the sustained path of growth and have registered 17.6 percent growth in the current fiscal year.
 
In September 2014, India’s clothing exports showed 16 percent growth and stood at $1.3 billion, Mr. Uppal said.
 
In fiscal year 2013-14, India’s apparel exports increased by 15.7 percent year-on-year to $15.001 billion.
 
Mr. Uppal attributed the growth in Indian apparel exports to increasing labour cost in China, non-compliance of large number of factories in Bangladesh, high rate of inflation, currency appreciation, etc., which provided relative advantage to Indian exporters.
 
He said a small push from the Government with its policy support may help India to get more business as overseas buyers are looking at India as safe and reliable option for sourcing apparel. However, to capture the space in market left by China and Bangladesh, Indian exporters will have to be competitive in pricing, apart from being able to meet strict timelines, and better quality delivery.
 
“Garment Industry has highest potential to shift the additional unutilized labor out of agriculture and lift large population above the empowerment line. To jumpstart job creation, India will need to improve its business and investment climate, especially the labor incentive sector like the garment industry. This sector with the adequate support of the Government can be a big supplier of skilled labour and help ‘Make in India’ initiative of PM a reality,” AEPC said.
 
The 22nd edition of India Market Days is a project approved by Ministry of Textiles and is funded under the Market Access Initiative (MAI) Scheme of Ministry of Commerce & Industry, Government of India, for inviting overseas buyers and buying agents under reverse BSM.
 
More than 50 exhibitors displayed their Spring Summer 2015 collections at the two-day event that ended on October 28, 2014. The product profile at the event ranged from menswear, leisure wear, formal and cocktail wear to women’s fashions and childrenwear of several prominent apparel and accessory manufacturers and exporters.
 
Buyers from the US, South Africa, Spain, Canada, Turkey, Brazil, UAE, and Denmark were among those who visited the India Market Days fair. (RKS)
 

Fibre2fashion News Desk - India


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