India’s apparel export has been growing for the past few months and based on industry feedback, there are enough chances that apparel sourcing will increase from India.
Most of the companies across India, be it SMEs or giants have gotten reasonably good orders from overseas and many of them are expecting double-digit growth in the current fiscal.
As reported recently by Apparel Resources, India’s apparel exports for August 2024 have increased by 11.9 per cent on a Y-o-Y basis.
Various Indian apparel manufacturing companies are sharing their growth projections for the massive survey from Apparel Resources – AR Power 100 in Apparel Manufacturing
Apart from Indian apparel exporters, similar positive sentiments about the India apparel industry have been echoed by Dr. Sheng Lu, professor of fashion and apparel studies at the University of Delaware and a well-known figure in the global apparel industry.
His recent study also underlines that India’s apparel sourcing will increase, especially since nearly 60 per cent of brands, that were part of the US Fashion Industry Association’s (USFIA) summer benchmarking study, planned to expand apparel sourcing from India in the next 2 years.
Industry experts also believe that the impact of the positive steps by the Indian Government at the policy level, possibilities of tariff imposition on China by Donald Trump, the political scenario in Bangladesh and increasing demand in some of the buying destinations will also favour India’s apparel exports.
Sudhir Sekhri, Chairman, AEPC is of the view that this growth momentum was in spite of the Red Sea crisis, high logistics costs and global inflation which show that the industry’s resilience is quite encouraging.
