— The colourful Pavilion of “SGCCI Garment Expo-2023″ attracted 8000+ visitors during two days event
— India has huge opportunities for garment export in America and other countries : ‘Garment Conclave 2023’ was also held during the expo
Surat:
The Southern Gujarat Chamber of Commerce and Industries (SGCCI) has organized ”SGCCI Garment Expo 2023 – Vendor Networking Opportunities” at Surat International Exhibition and Convention Centre, Sarsana, Surat during 27-28 December 2023. More than 8 thousand visitors from all over the country has visited this two days event.
At the inauguration of the expo, SGCCI president Ramesh Vaghasia said, with growth in population and income, India’s per capita income is projected to reach US$ 10,000 by 2047. The consumption of apparel per capita is likely to increase fivefold. The size of the domestic garment industries is likely to increase five times as compared to the present. If India’s share in global trade is assumed to be 8%, there is a possibility of a huge increase in exports of textiles and garments from the country in the coming years.
Last year’s textile and apparel exports from India reveals a positive trend. India’s readymade garment exports increased by 1.10 percent to reach 16.19 billion US dollars. Significant benefits are emerging for the industrialists and traders involved in the garment segment of the textile value chain from the country.
”Garment Conclave 2023” was also held during this expo. In the various sessions, experts opine that the global market of different products in the world is worth 910 billion US dollars, of which 514 billion US dollars is the market of garments. Global buyers now want to divert from China and India has a golden opportunity to attract them. They want good quality, bulk production and on-time delivery. While Bangladesh, Vietnam and Cambodia are taking advantage of this opportunity, India also has huge opportunity in this direction.
Various countries exports to America is approx 3 billion US dollars, in which India’s share is only 2 percent, India has entire market is open for garment export to America. Margins can increase further if efficiency is increased by investing in garment manufacturing with systematic planning. Experts also gave detailed information about various factors like digitalisation, sustainability, efficiency and compliance. Volume matters to American, Japanese and European buyers. Hence, the industrialists of Surat must have to manufacture garments in bulk to attract them.
