Home / Knowledge / News / Association/Org / India has become attractive for apparel sourcing: AEPC
India has become attractive for apparel sourcing: AEPC
07
Oct '13
India has become an attractive destination for apparel sourcing due to its fairly high level of complaint factories engaged in apparel manufacturing and exports, Apparel Export Promotion Council (AEPC) chairman A Sakthivel told mediamen in Tirupur.
 
In the first five months of 2013, India’s garment exports increased by 14 percent year-on-year in dollar terms, and if the trend continues the sector would be able to cross the target of US$ 17 billion set for the current year, Mr. Sakthivel said.
 
China, the world’s largest apparel exporter, is showing more interest in engineering sector and Bangladesh, the second-largest apparel exporter, is currently being seen as a non-compliant country, and hence global apparel buyers are now eyeing India with greater interest, the AEPC chairman said.
 
Although India has at a cost disadvantage when compared to Bangladesh, Vietnam and other countries, non-compliance issues in Bangladesh have resulted in greater orders to India, he added.
 
He predicted that it would be a good period for India’s apparel sector from now on, and over the next five years, India could double its woven and knitwear garment exports.
 
He said AEPC would send delegations to Australia, Japan and Israel to boost apparel exports to these countries.
 
The depreciation of the Indian currency by nearly 25 percent this year has also contributed to an increase in the country’s clothing exports this year. In contrast, Bangladeshi Taka has appreciated by around 8 percent this year.
 
According to AEPC, 66 percent of India’s total exports are destined for countries in the European Union and the US.
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 28th Mar 2020

Worldwide lockdowns, stimulus shots, raised PPE production

The global response this week to the unfolding COVID-19 crisis saw...

Pic: Shutterstock

Apparel/Garments | On 28th Mar 2020

Vietnam may outdo Bangladesh as 2nd largest RMG exporter

Though Bangladesh is now the second-largest garment exporter...

Pic: Shutterstock

Textiles | On 28th Mar 2020

Morgan Stanley rules out economic depression

With COVID-19 badly damaging the global economy, Morgan Stanley...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Top executives, Textile industry

Top executives
Textile industry

It will take some time for the people to change their buying choices

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Matthias Eilert,

Matthias Eilert

Germany-based Forbo Movement Systems division is a global leader in...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


March 2020

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


Advanced Search