Apparel Export Promotion Council, abbreviated as AEPC, is the official body of apparel exporters in India which is a helping hand to Indian exporters as well as importers or international buyers who select India as their favored sourcing the last station of garments.
It was incorporated in the year 1978. Its head office is located at Gurgaon and Registered Office at Okhla and ten offices pan India
On Sunday, AEPC, an exporter’s body, stated that it is seeking new markets such as Latin America, Australia, and Israel to hit the country’s exports.
Nevertheless, the rise in the price of the raw materials is affecting the industry country’s exports are anticipated to document healthy growth during the current fiscal year and 2022-23.
Narendra Goenka, chairman of AEPC (Apparel Export Promotion Council) declared that the council is participating actively with Indian missions abroad to investigate export opportunities for the sector.
He also added to PTI that they are seeking new markets, and there is huge export potential. They are anticipating to touch exports of approximately USD 16.5 in 2021-22 and USD 19 billion in 2022-23.
They are on the point of good growth in apparel, and also in the process to build a brand India image for sustainable growth.
He also mentioned that the Production-Linked Incentive (PLI) schemes, which are for man-made fibres and technical textiles, will help capture investments and will push the domestic manufacturing and consecutively exports from the country.
He stated that free-trade agreements, when executed with countries like the United Kingdom and the United Arab Emirates, will additionally assist in improving exports.
The chairman shared that an increase in the prices of raw materials is one of the biggest challenges faced by the sector.
For instance, in the last year, cotton yarn prices have increased by approximately 70-80 percent. The prices of global commodities are rising.
Goenka, the managing director of Texport Industries, one of India’s largest apparel manufacturers, stated that India is also the largest producer of cotton yarn, and the dominance should have been with us.
He proposed that there is a requirement to have some constant raw material pricing as it will assist the industry to participate in the global markets.
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