– Industry should work in hub and spoke model to enhance textiles manufacturing: Textiles Minister
– Around 600 buyers from more than 50 countries to participate in this edition of IIGF
– The apparel sector alone provides direct employment to 14.5 million people and indirect employment to over 32 million people.
25th June 2024, New Delhi: Today in New Delhi, the 71st edition of the India International Garment Fair (IIGF) was opened by Union Textiles Minister Shri Giriraj Singh. At the inauguration were significant members of the trade, international buyers, exhibitors, and member of parliament Shri Ramesh Bidhuri. The chairman of the AEPC, Shri Sudhir Sekhri, was also present.
“Today, India is one of the fastest growing economies in the world with a GDP growth rate of 7.2% and is expected to be third largest economy by 2027–2028,” Shri Giriraj Singh said in his inaugural address. An environment that is favorable for business has been created in India by the union of a growth-oriented government establishment and a good domestic attitude.
I am happy to learn that around 600 buyers from more than 50 countries will be visiting this edition of IIGF, the Minister noted.
“I have said that my challenge is not Bangladesh. I would like to go ahead of China in times to come. Bangladesh water and raw material charges are going upwards. Further, we should make small clusters for smaller players in India to boost RMG exports,” the Minister noted.
Shri Singh also called for the adoption of the ‘hub and spoke’ model to enhance domestic manufacturing, encouraged industry collaboration and underscored the importance of establishing Indian brands. The ministry is also poised to revive the Scheme for Integrated Textile Parks.
Shri Sudhir Sekhri, Chairman AEPC during his address underlined, “the global headwinds negatively affected Indian apparel exports. But despite these adverse scenario, the Indian apparel export industry was able to hold its own and contain the damage to quite an extent. And as we witness reversal of trend in May 2024 with 9.8% increase in exports, we are confident that under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi Ji and under the able guidance of Hon’ble Union Textile Minister Shri Giriraj Singh Ji we will be able to overcome challenges and register impressive growth in exports.”
Shri Mithileshwar Thakur, Secretary General observed, “IMF’s April 2024 World Economic Outlook did forecast the world economy to continue growing at 3.2% during 2024 and 2025 with slight acceleration in advanced economies. Similarly, global inflation is forecast to decline steadily, from 6.8% in 2023 to 5.9% in 2024 and 4.5% in 2025.
Knowledge sessions are also being organised on the sidelines on the 25th and 26th June’2024 covering various topics like Navigating Global Trade: Challenges and Opportunities for the Industry, The Efficiency Advantage: Driving Manufacturing – Excellence in Apparel and Sustainable Fashion: From Concept to Reality.
This fair being organised by the Apparel Export Promotion Council (AEPC) through the International Garment Fair Association (IGFA), in association with three major garment Associations of India namely, Clothing Manufacturers Association of India (CMAI), Garment Exporters & Manufactures Association (GEMA) & Garment Exporters Association of Rajasthan (GEAR), is a testimony of the collective spirit, team-work and synergies built by these associations to achieve greater goal.
