Apparel exports are expected to surpass target of US $10 billion mainly due to quota restrictions on China.
The exports of apparel have been rising for past few years and by the end of current fiscal, it is expected to touch mark of $10 billion, up from $8.4 billion in the last financial year.
China is the biggest apparel exporter to US by exporting goods worth $55 billion.
Growth of apparel exports is expected to be at the rate of 12 percent on year-on-year basis.
In 2003-2004, apparel exports stood at $4.6 billion and it increased to $8.4 billion in 2005-2006 following quota imposition on China.
SEZs alone is expected to export apparel and accessories worth Rs5,000 crore every year, after estimated investment of Rs2,000 crore from 50 players.
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