Despite plenty of internal and external challenges, Apparel Export Promotion Council (AEPC) believes that apparel exports from the country will expand by about 40 per cent this fiscal.
Addressing the apparel exporters (members of AEPC) at 41st Annual General Meeting (AGM) of the Council, Dr. A. Sakthivel, Chairman, AEPC, said “AEPC is working with a target to achieve a 40 per cent increase in apparel exports this financial year with major focus on new medical textiles. This will take our total apparel exports up from US $ 15.4 billion last fiscal to about US $ 22 billion in 2020-21.”
Recognising medical textiles as a new source of business for the apparel industry and forex earner for India, now that the Government has lifted the export ban on many of the PPE items, he exhorted the members to get into Man Made Fibre (MMF)-based garments in a big way going by the global demand pattern.
He added that AEPC will sign MoUs with his MMF manufacturers, including Reliance Industries Ltd., as MMF is the key to increasing India’s textile exports to the global market. For facilitating R&D into various fibre base, technologies, processing and sample development, the Council is setting up a dedicated R&D Centre at its head office.
AGM also discussed the Council’s plans of foraying into Virtual Trade Fairs & Exhibitions by setting up AEPC’s own virtual platform.