AEPC, Chairman: Big opportunity lies ahead for Apparel Exporters
15 July 2022, Mumbai:
Albeit the Cotton, prices have started to come off yet clothing manufacturers have not yet gotten a real respite from the dip in raw material costs.
On the other hand opportunistically Customers of apparel firms, more importantly from traditionally our major buying markets, for instance, the US & Europe, are negotiating for discounts/rebates, too. As if this wasn't enough bear in mind there is also the bearing of a weakening rupee adding to the build-up pressure.
If our industry plays the right cards, there is a big vacuum to be filled especially since China is vacating space, anti-China sentiments & China + One policy globally are starting to play out, and for once India has a real opportunity this time.
RELATED NEWS . AEPC, N.Goenka, Chairman: The extension of the Emergency Credit Line Guarantee Scheme (ECLGS) to bring relief to apparel exporters
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ALSO READ India may become the world’s garment factory in 3 years: Chairman, AEPC
With India achieving $ 400 billion in merchandise exports, Narendra Goenka, Chairman of, the Apparel Export Promotion Council (AEPC) hopes, "India will become the world’s garment factory in the next three years. The launch of new schemes like RoSCTL, PLI, and PM-MITRA will increase the production, employment, and export capacity of one of the largest employing sectors with a maximum women workforce.
Goenka credited the various government incentives for boosting manufacturing across sectors and the policy of Made in India for the world" he adds.
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CREDITS: CNBC
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