Apparel Export Promotion Council (AEPC) informed Tuesday that garment exports are on the sustained path of growth with apparel exports from India having registered 17.6 percent growth in April-September 2014.
The cumulative April- September of the FY 2014-15 has increased by 17.6 percent over the same period of previous FY and reached to USD 8.3 billion, which is good performance. Increasing labour cost in China, non-compliance of large number of factories in Bangladesh, high rate of inflation, currency appreciation, etc with the competing countries have create a big opportunity for India.
A small push from the Government with its policy support may help India to get more business as overseas buyers are looking at India as safe and reliable option for the sourcing. But to capture the space in market left by China and Bangladesh, India have to be competitive in pricing, apart from meeting strict timelines, better quality delivery by exporters, said Virender Uppal, Chairman AEPC.
AEPC also underlined that garment Industry has highest potential to shift the additional unutilized labor out of agriculture and lift the large population above the empowerment line. To jumpstart job creation, India will need to improve its business and investment climate especially the labor incentive sector like the garment Industry. This sector with the adequate support of the Government can be the big supplier of the skilled labour and help Make in India' initiative of PM a reality.
AEPC has been pushing for the industry enabling policy to be announced in the new Foreign Trade Policy. They are working for it and the issues like All Industry Rates of Drawback, Interest subvention, procedural simplifications to cut the transaction cost and time, simplifications of labor laws, etc have been raised with the Government.
The council has organized the 22nd edition of India Market Days, a project approved by Ministry of Textile and funded under the Market Access Initiative (MAI) scheme of Ministry of Commerce & Industry, Government of India for inviting overseas buyers and buying agent under reverse BSM.
The India Market Days was inaugurated on 27th October 2014, at Apparel House, Gurgaon by Sudhir Sekhri, Chairman EP, along with, EC member and Puneet Kumar, Secretary General, AEPC, in the presence of international buyers, participants and AEPC officials.
Speaking on this occasion EP Chairman AEPC Shri Sekhri said that this time 52 exhibitors are displaying their Spring Summer 2015 collection. Buyers will be able to find the up market fashion driven products to source from India. There will be buyers from across the globe for the two days of India Market Days which kick-started today.
During his inaugural address, Chairman EP, Sekhri remarked that India Market days provide an opportunity to analyze and choose, from the wide spectrum of existing and emerging products at one place, finalize bulk requirements and negotiate best rates for bulk orders. This event will help the garment exporters find the right partners for their business.
India has good design and raw material strengths and business is based on exceptional customer service, respect and integrity in the pursuit of mutually profitable outcome.
Puneet Kumar, SG AEPC, in his remark welcomed the buyers and said that the garment export Industry is sustainably growing and are significantly at the highest level in US market.
Displaying the latest collection of high quality merchandise, the product profile of the event covers the entire value chain of the textile and clothing industry. Ranging from menswear, leisure wear, formal and cocktail wear to womenâ€™s fashions and children wear of several prominent apparel and accessory manufacturers and exporters are exhibiting their products.
The other prominent exhibits includes Blouses, Casual Wear, Co-ordinates, Denim Wear, Knitwear, Ladies Wear, Shirts, Shorts, Silk Garments, Skirts, Suits, Sweat Shirt, T-Shirt, Trousers, Vests, Evening Dresses, Bodysuit, Brief, Home Wear, Fashion Jewellery, Menâ€™s underwear, Nightwear & Pajamas, Outerwear, Pareos, Scarf, Stoles, Handbags, Cushion covers, bed covers, fabrics, etc. Exhibitors/ showroom holders are from cities like Jaipur, Gurgaon, Noida, New Delhi, Ludhiana etc.
Buyers hailing from, USA, South Africa, Spain, Canada, Turkey, Brazil, UAE, Denmark, etc are visiting the India Market Days fair on this inaugural day.
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