– Gains of FTAs now visible: Chairman AEPC
– Will target new markets besides traditional ones
AEPC is preparing a growth strategy to realize the true potential of the RMG sector and achieve exports to the tune of USD 40 Billion by 2030.
Speaking on the strategy, Shri Sudhir Sekhri, Chairman AEPC stated that, “India’s apparel exports have the unique distinction of having minimal import dependence. With the advantage of being amongst the largest producers of all kinds of fiber- natural and manmade- and having an abundant young workforce, India has all the ingredients to build an unparalleled ecosystem from Fiber to Fashion.
Elaborating further on the strategy, Chairman AEPC stated, “This financial year we are planning to participate in 17 International Fairs across all continents. The new destinations that we are targeting this year are Saudi Arabia, Poland, Mexico, Brazil, South- Africa and Russia besides the traditional large countries like EU, USA and UK”. Riding on the huge success of the first edition of Bharat Tex in Feb 2024, a unique collaboration between the GoI and the entire Textile Industry.
To reach out to foreign Brands, AEPC organized a roundtable in New Delhi on 3rd May 2024 with the representatives of major NCR-based Buying Agencies/Liaison Offices of overseas Retailers/Brands. This roundtable was chaired by Shri Rohit Kansal, Addl Secretary, Ministry of Textiles, GoI, and co-chaired by Smt. Shubhra, Trade Advisor, Ministry of Textiles, GoI.
Shri Kansal in his address stated that the target of 40 billion USD by 2030 is eminently achievable and to achieve that goal there needs to be more and more engagement with the brands and buying houses which alone can create the right perception among potential buyers about the industry’s readiness to meet various compliances.
Ms. Shubhra stressed the need for scaling and increased investment in the sector to instill confidence in sourcing from India by all global brands, further emphasizing the need to work on the perception of India’s manufacturing ecosystem in the world. She further suggested that the Council may like to explore forming a group of heads of CSR departments of major apparel companies along with other councils to proactively keep track of any baseless allegations by vested interests about social compliance issues in the textile value chain.
Commenting on the meeting, Shri Sekhri Said, “The presence of a large number of representatives of major NCR-based Buying Agencies/Liaison Offices indicates their willingness to forge a stronger relationship with Indian exporters. We shall strive to build on this relationship of trust by creating an ecosystem, from fiber to fashion, at par with the best in the world.
Praising the GoI’s initiative in signing several meaningful FTAs in recent years, Chairman AEPC observed, “The advantages from FTAs are now visible as RMG exports have registered 16.8% growth in Mauritius and 5.7% in Australia, for the period APR-FEB 2023-24, compared to the same period last year”.
