New Delhi/ Gurugram: Apparel Export Promotion Council is organising the first edition of Upnext India 2023, starting with a Reverse Buyer Seller Meet with Japan. This B2B fair will be held in Apparel House, Gurugram on 10th & 11th February 2023. This RBSM with Japan is supported by the Ministry of Commerce and Industry under the Market Access Initiative (MAI) Scheme.
Responding to the AEPC invite, 50 plus prominent Japanese buyers and traders have already confirmed their participation. Some of the iconic Japanese brands including Sumitomo Corporation, MUJI, Toyoshima, Marubeni, Mitsubishi, Koyo trading, United Arrows, MYK Fashion, etc. will be here in India to source their requirement. More than 75 Indian exhibitors from across the country will be displaying a diverse range of Indian RMG across various categories including summer and winter collection.
Speaking on the ensuing show, Naren Goenka, Chairman AEPC said, “In light of the fact that Japan is the 4th largest garment importer in the world with its apparel imports being stable even during pandemic times and Indian apparel having duty free access under Indo-Japan CEPA agreement as against 9% for Turkey and 9.5% for China, it makes business sense for Indian RMG manufacturers and exporters to participate in this unique opportunity.”
With total garment imports of Japan of 23USD billion, against India’s exports of 0.22US billion, a strong Indian garment industry with its unique offerings, has a huge scope for Japanese trading companies to source from India. Furthermore, the stronger opportunities for trade diversion is emerging with continuous Chinese fall, this gap can be easily filled by the Indian companies, Chairman AEPC added.
Goenka further said, “Japanese companies have two competitive advantages as apparel sourcing base: sourcing cost and flexibility and agility. Indian suppliers can cater to both small size customised orders of 300 pieces to large orders as huge as 3 lakh pieces of one style.”
Apparel imports into Japan have witnessed a positive mark in the last 3 years despite of Covid 19 which allows Japan to import garments from India at zero duty, this gives India’s apparel industry a huge opportunity in Japan market.
The top products imported by Japan from the World includes Jerseys, pullovers, cardigans, waistcoats and similar articles, of man-made fibres, knitted; Jerseys, pullovers, cardigans, waistcoats and similar articles, of cotton, knitted or crocheted; T-shirts, singlets and other vests of cotton, knitted or crocheted.
The top products imported by Japan from India include Women’s or girls’ blouses, shirts and shirt-blouses of cotton; Women’s or girls’ dresses of cotton; Jerseys, pullovers, cardigans, waistcoats and similar articles of cotton, knitted or crocheted.
