Garment exports grew by 16 per cent in September to $1.3 billion, aided by the rising cost in China and non-compliance issues in Bangladesh. During the April-September period, shipments rose by 17.6 per cent to $8.3 billion.
Mr. Virender Uppal, Chairman, Apparel Export Promotion Council (AEPC), said: “Increasing labour cost in China, non-compliance of a large number of factories in Bangladesh, high rate of inflation and currency appreciation in the competing countries have provided India a big opportunity in view of its relative advantage.”
He said policy support from the Government may further help India 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, better quality delivery, etc., Mr. Uppal added.
“The garment export industry is steadily growing, and we are significantly at the highest level in the US market,” said Mr. Puneet Kumar, AEPC Secretary General.