Apparel Export Promotion Council (AEPC), the official body of Indian apparel exporters, has issued a trade and health advisory on mitigating the situation arising out of Coronavirus (COVID-19).
The AEPC shared about its initiatives of identified alternate sources of input suppliers to help diversify sourcing of raw materials and identified products with potential for exports in US markets.
With regard to apparel export, China has recently offloaded products worth US $ 4.9 billion in top 9 markets. In these markets, though India has captured only US $ 314.4 million (6.4 per cent).
It is pertinent to mention that Germany, Korea, Russian Federation, France and Netherlands are among the top markets where India couldn’t capture the offloaded space by China. While in case of Australia, UK and USA, India captured the Chinese offloaded space by 29.9, 10.7 and 9.7 per cent, respectively.
On the other hand, regarding raw material sourcing, India’s import of yarn, fabric and interlining from China was, respectively, 46, 67 and 99 per cent. Indonesia and Japan can be an option regarding yarn, while Egypt and Korea should explore for fabric.
Out of top 10 product segments exported to US by China, 7 product categories have potential for India, while there are 4 such products exported to EU that India can tap. Some of such common products for US and EU are jerseys, pullovers, cardigans, waistcoats, women’s trousers, bib and brace overalls and men’s trousers.
