The Apparel Export Promotion Council (AEPC) has said that the apparel sector, which is labour-intensive, has the potential to significantly contribute to take the country’s merchandise exports to US $ 1 trillion by 2030. Incentives in the Budget will help the apparel industry focus on diversification of markets and products, said the AEPC.
Providing an ease-of-doing-export environment would enhance competitiveness of the sector, said council chairman Naren Goenka.
“The government’s key initiatives such as trade agreement with Australia and the UAE and increase in funds will help us to focus on market diversification and product diversification,” he further added.
Through its export promotion activities in 2022-23, the AEPC promoted Indian apparel exports to have a global reach and get to more than 25 export destinations.
“As we look forward to the 46th year of this council, I can say with confidence that, in the coming years, we will be able to support the government’s efforts to make India a U $ 2 trillion (US $ 1 trillion goods and US $ 1 trillion services) export target by 2030,” the AEPC Chairman said.
