Economy

Indian apparel exporters must capture double-digit share of world market: Venkaiah Naidu

Our Bureau New Delhi | Updated on January 21, 2021

AEPC launches virtual exhibition platform to find way around Covid challenges

Indian apparel and fabric exporters must aim to capture a double-digit share of the world apparel market, from its current level of 5-6 per cent, through upskilling and use of latest technologies, Vice-President M Venkaiah Naidu has said.

Inaugurating the 24x7x365 virtual exhibition platform of the Apparel Export Promotion Council (AEPC) on Thursday, Naidu said that this effort, together with the support of the Textile Ministry, will boost Indian apparel exports. “We should soon aspire to reach a double-digit share in export of fabrics with proper encouragement and branding,” the VP said, according to a statement circulated by AEPC.

Six-pronged plan suggested for double digit growth in textile & apparel sector

The virtual exhibition platform will showcase Indian apparels round the year and host B2B meetings. “Considering the travel restrictions due to Covid-19 pandemic, the platform is seen as a better alternative in terms of both economy and convenience,” the statement pointed out.

Naidu said that the industry should try to focus on the reasons behind why it lacked the competitive edge in fabrics and apparels when compared to Bangladesh and China, despite being the leading producer and exporter of cotton, jute, silk and MMF yarns.

Textile sector needs a vision and mission

“They (Bangladesh and China) are the biggest buyers of Indian yarn. They add value to it and sell the fabrics and apparels at a lower cost than India. This is largely due to the unorganised and dispersed nature of the weaving sector in India. We need to have more Tirupurs,” he said.

Support for SMEs

The Indian apparel industry created world history by establishing a ₹7,000-crore ($1 billion) personal protective equipment (PPE) and N95 mask industry in the midst of a pandemic in just two months, pointed out Minister of Textiles Smriti Irani.

“Reflecting the same enterprise, AEPC has now created a virtual platform. It will give rise to opportunities for over 300 top exporters in the country. But knowing that AEPC is an 8,600-member family, I am hopeful that the platform specially gives space to those who innovate, who belong to the SME segment, who are start-ups, as young innovators need a supporting hand,” Irani said.

Published on January 21, 2021

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