Apparel Export Promotion Council (AEPC) Chairman Dr A Sakthivel welcomed India’s highest ever monthly merchandise export of $37 billion in December 2021, an increase of 37% over $27 billion exports in December 2020.
“Looking at the current trend, India will achieve the $400 billion merchandise exports target for the current fiscal. This has been solely possible due to the efforts of Prime Minister Shri Narendra Modi who initiated the export-led growth strategy for the country,” Dr Sakthivel said.
The Chairman also welcomed the export figures of readymade garments, which saw an increase of 22% to $1.46 billion in December 2021 from $1.20 billion in December 2020. The total apparel exports stood at $11.13 billion during April-December 2021.
“Indian apparels have also bounced back. Exports in the first nine months of this fiscal year were 35% higher than $8.22 billion in April-December 2020. This is despite the fact that local restrictions impacted operations in the first quarter during the second wave of the pandemic. Apparel exporters have done exceedingly well in spite of challenges.
“We have a fast growing order book from brands and buyers across the world. I am sure that with the active support of Minister of Textiles, Commerce and Industry Piyush Goyal and driven by the strong demand conditions, Indian apparel exports will, too, see historic highs soon in the next coming months.
“Two mega schemes that will help India reclaim its global leadership position in textiles and apparels are PLI and PM-MITRA. The PLI scheme will be more beneficial if the investment and turnover targets are reduced by 50% as most players in the apparel industry are in the MSME segment. Further, fast tracking of trade deals with the US, UK, EU and UAE will make Indian apparels far more attractive,” Dr Sakthivel added.
