Latest News | Garment Exports Up 8.5 Pc to USD 7.5 Bn During Apr-Sep
Get latest articles and stories on Latest News at LatestLY. The country's garment exports rose by 8.5 per cent to USD 7.5 billion during April-September this fiscal despite global uncertainties, according to the commerce ministry data.
New Delhi, Oct 17 (PTI) The country's garment exports rose by 8.5 per cent to USD 7.5 billion during April-September this fiscal despite global uncertainties, according to the commerce ministry data.
In September also, the exports of ready-made garments grew by 17.3 per cent to USD 1.11 billion, the data showed.
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Commenting on the data, Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said India's exports have recorded high growth despite global headwinds and continued inflationary pressure.
Even the major apparel exporting countries have witnessed a slowdown in the RMG export growth in recent months, he said.
"India is uniquely placed with the advantage of low import dependence, existence of the entire ecosystem from fibre to fashion, abundant and young labour force and therefore scope for growth is unlimited," he added.
Sekhri added that this year exporters will be participating in many big international fairs and will be hosting Bharat Tex again in 2025 to increase their global footprint.
The council will also conduct international roadshows in Spain and New York this month, to showcase the best of trade, technology and tradition.
Mithileshwar Thakur, Secretary General AEPC said that India has started harnessing the untapped potential and has been logging impressive double-digit growth in RMG (ready made garments) exports in the past few months despite geo-political challenges and supply chain disruptions.
"It will not be an exaggeration to say that the entire world has started looking at India as a preferred sourcing destination," Thakur said.
The major export destinations for the sector are the US, UK, Germany, Spain, and Netherlands.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)