New Delhi : Despite global uncertainties, its minor impact is visible on India's textile business. In this current financial year i.e. 2024-25, the country's April exports have shown a slight increase in the months of April to September. This figure has increased by 8.5 percent to $7.5 billion in this quarter.
According to the data released by the Commerce Ministry, the export of ready-made garments has increased by 17.3 percent to $ 1.11 billion in September also. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that despite global adversities and persistent inflationary pressure, India's exports have achieved high growth.
edge possibilities unlimited
He said that even in major apparel exporting countries, there has been a slowdown in the growth of exports of ready-made garments (RMG) in recent months. “India is in a unique position where import dependence is low,” Sekhri said. The entire ecosystem is available from fiber to fashion. The labor force is abundant and young, so the possibilities for growth are unlimited.”
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India reiterates untapped potential
Sekhri said that this year exporters will participate in many big international fairs and will host 'Bharat Tex' again in 2025 so that their presence can be increased at the global level. The Council will also organize international road shows in Spain and New York this month, showcasing the best of business, technology and tradition. AEPC general secretary Mithileshwar Thakur said India has started repurposing unutilized capacity.
Major export destinations
Despite geopolitical challenges and supply chain disruptions, ready-made garment exports have recorded impressive double-digit growth in the last few months. “It would 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 of the region are the US, UK, Germany, Spain and the Netherlands. After the coup in Bangladesh, opportunities for India's textile industry had increased.
(with agency input)
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