Apparels Export Promotion Council (AEPC): Exports of Indian garments are boosted by strong demand tailwind
04 January 2022, Mumbai:
According to the Apparel Export Promotion Council (AEPC), robust demand for Indian apparel boosts exports. Readymade garment exports increased by 22% to the US $1.46 billion in December 2021, compared to the US $1.20 billion in December 2020.
From April to December 2021, total apparel exports totaled $11.13 billion dollars. Indian garment exports increased by 35% in the first nine months of the current fiscal year, to $8.22 billion, compared to $8.22 billion in April-December 2020.
This is despite the fact that municipal constraints hampered operations during the second wave of the epidemic in the first quarter.
"Apparel exporters have done very well in spite of hurdles," stated Dr. A. Sakthivel, Chairman of the AEPC in a release. We have a steady stream of orders coming in from companies and purchasers all around the world.
I am certain that, with Minister of Textiles, Commerce, and Industry Piyush Goyal's active backing and the robust demand circumstances, Indian garment exports would reach new highs in the coming months." PLI and PM-MITRA, he continued, are two huge programs that would help India restore its worldwide leadership position in textiles and clothing.
Because most participants in the garment business are in the MSME group, the PLI plan will be more helpful if the investment and turnover requirements are cut by 50%. Furthermore, the expedited implementation of trade agreements with the United States, the United Kingdom, the European Union, and the United Arab Emirates will make Indian clothes even more appealing.
He expressed his delight at India's highest-ever monthly goods export of US $37 billion in December 2021, up 37% from US $27 billion in December 2020, and predicted that, based on current trends, India will meet the US export target for the current fiscal year.
This has only been achieved because of Prime Minister Narendra Modi's efforts, who began the country's export-led economic plan.
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