Strong demand and healthy order books will further help in boosting the country’s exports in the coming months, Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said on Tuesday.
“We have a fast-growing order book from brands and buyers across the world…With the help of strong demand conditions, Indian apparel exports will see historic highs soon in the next coming months,” he said in a statement.
Export of readymade garments saw an increase of 22 per cent to USD 1.46 billion in December 2021 from USD 1.20 billion in the same month of 2020. Total apparel exports stood at USD 11.13 billion during April-December 2021.
“Indian apparels have also bounced back. This is despite the fact that local restrictions impacted operations in the first quarter during the second wave of the pandemic. Apparel exporters have done exceedingly well in spite of challenges,” Sakthivel said.
He added that two mega schemes that will help India reclaim its global leadership position in textiles and apparels are PLI (production linked incentive) and PM-MITRA (Mega Integrated Textile Region and Apparel).
Further, fast tracking of trade deals with the US, UK, EU and UAE will make Indian apparels far more attractive, Sakthivel added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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