Apparel exporters eye non-traditional markets like Russia, Mexico & South Africa


Facing tough competition from countries like Vietnam and Bangladesh in US and European markets, Indian apparel exporters have started venturing into non-traditional markets like Russia, Mexico, South Africa, Australia and West Asia. The plan is to increase exports to non-traditional markets from 24% to 35% within the next few years.

Apparel exporters eye non-traditional markets like Russia, Mexico & South Africa

Apparel exports from India to the US slumped 10.6% this year up to July to $1.94 billion, according to data given by the Office of Textiles and Apparel, US. While apparel exports from China and Bangladesh, the major competitors to Indian textile firms, were almost flat, exports from Vietnam clocked a 9% growth.


Talking to ET, Apparel Exports Promotion Council (AEPC) chairman A Sakthivel said: "Our aim is to increase the share of exports to non-traditional markets from 24% to 35%. If this happens, the share of exports to EU would come down to around 40%."


Tirupur, the country's hub of garment exports, has shipped garments worth around Rs 6,000 crore in the first six months of the current fiscal, which is almost the same compared to the previous year.

 

Tirupur generally exports garments worth nearly Rs 12,500 crore and industry officials say the figure has remained almost stagnant in last three years.