The exports in the apparel industry will see a growth of 20 to 25% every year, starting from the current year with an USD 220 million. This will give rise to many opportunities for domestic exports.
As per an estimation made by Apparel Export Promotion Council (AEPC), the opportunities are rising mainly because of geopolitical land-scape, government supports such as production linked incentive, mega park scheme, improving the quality standard which will fetch a sustainable benefits of free trade with a written agreements with the major markets. This will be key growth in the market.
This will also help promoting the exports to Japan. The council has plans of organizing a 2-day show in Gurugram. There are many strong businesses in Japan which reflects facts of China (which has been a domestic partner for supplying garments in Japan). With time, it has witnessed a decline in the past 5 years. According to Naren Goenka, “Garment industry in both counties have geared up to increase this trade taking advantage of duty-free access for Indian RMS (ready -made garments) post Indo-Japan trade pact”.
