“Garment exports are on a sustainable growth path in which we have incurred a 17.6 per cent growth in the current fiscal. Exports in dollar terms for the month of September 2014 stood at 1.3 billion, registering a 16 per cent growth. The cumulative exports for the months April-September of the financial year 2014-15 has increased by 17.6 per cent over the same period in 2013-14 and has reached USD 8.3 billion, which is a good performance” said Mr. Virender Uppal, Chairman AEPC, in his message during the inauguration of the 22nd edition of India Market Days recently. The event was inaugurated by Mr. Sudhir Sekhri, Chairman, Export Promotion (EP), AEPC along with Mr. Puneet Kumar, Secretary General, Apparel Export Promotion Council (AEPC), in the presence of international buyers, participants and AEPC officials at the Apparel House in Gurgaon.
The India Market Days is a project approved by the Ministry of Textiles and is funded under the Market Access Initiative (MAI) Scheme of Ministry of Commerce & Industry, Government of India for inviting overseas buyers and buying agents under reverse BSM. Displaying the latest collection of high quality merchandise, the product profile of the event covers the entire value chain of the textile and clothing industry.
Speaking on the occasion Mr. Sekhri said, “This time 52 exhibitors are displaying their Spring Summer 2015 collection. I am sure buyers will be able to find the upmarket fashion driven products to source from India. There will be buyers from across the globe for the two day event.” He also noted that “India Market Days provides an opportunity to analyze and choose from the wide spectrum of existing and emerging products at one place, finalize bulk requirements and negotiate best rates for bulk orders. This event will help the garment exporters find the right partners for their business.”
The increasing labour cost in China, non-compliance of large number of factories in Bangladesh, high rate of inflation and currency appreciation has provided India a big opportunity in view of its relative advantage. A small push from the government with its policy support may help the country to get more business as overseas buyers are looking at India as a safe and reliable option for sourcing. “But to capture the space in market left by China and Bangladesh, we have to be competitive in pricing, apart from meeting strict timelines” Mr. Uppal added.
Mr. Puneet Kumar, SG AEPC, in his remark welcomed the buyers and said, “The garment export industry is sustainably growing and we are significantly at the highest level in US market. I would like to credit this growth to all the hardworking exporters who put in their best in the business.”