India's apparel exports to register 40% growth in FY21: AEPC

Apparel Export Promotion Council (AEPC) Chairman A. Sakthivel, quoted that the apparel exports from the India is likely to expand by about 40 per cent in the current financial year.

While addressing the 41st Annual General Meeting of the industry body, the Chairman said: "We are working with a target to achieve a 40 per cent increase in apparel exports this financial year with major focus on new medical textiles, which will  take the total apparel exports from $15.4 billion in last fiscal to about $22 billion in 2020-21."

He also thanked Union Minister of Textiles, Smriti Zubin Irani for the initiatives taken to help this industry.

He urged the international buyers to do 'commerce with compassion' and honour their export orders.

Besides this, he facilitated the apparel into production of personal protective equipment (PPE) making India the second largest producer of medical textiles within a short period of time.

He further said the industry needs product diversification into Man Made Fibre (MMF) and plans to sign MoUs with several MMF manufacturers, including Reliance Industries Ltd, to improve the sector as MMF plays an important role in increasing India's textile exports to the global market.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.