As India records highest ever merchandise exports in Q1 FY22, Apparel Export Promotion Council (AEPC) has lauded the Government and Indian exporters for achieving the highest ever merchandise exports of US $ 95 billion in Q1 (April-June quarter) FY 2021-22.
Dr. A. Sakthivel, Chairman, AEPC said, “This is a historic moment for us. Despite all odds, the enterprising Indian exporters have brought laurels to the country.” He added that the US $ 400 billion merchandise export target of FY22 is doable.
It is worth mentioning here that export of cotton yarn/ fabrics/made-ups grew by 50.86 per cent in June 2021 over June 2019.
Export of the man-made yarn/fabrics/made-ups, etc. also grew well during the same period, while the RMG of all textiles noticed negative growth of 18.76 per cent.
However, apparel exports could not benefit much from the resurgence in global demand despite a good order book due to lockdowns in many important states.
“With the reopening of the economy, apparel exports are likely to catch up fast and surpass the pre-Covid levels soon,” he said.
He said that while the overall global demand has remained buoyant, the lockdowns in different parts of the country had kept factories in partial shutdown. With decline in daily cases of infection and resumption of economic activities, India is now set to achieve unprecedented export figures this year.
“India’s economic recovery is likely to be led by exports till domestic demand picks up. And, leading the pack of exporters will be the MSMEs, as exports need personalised management,” Dr. Sakthivel said.
He also requested the Government for early clearance of RoSCTL cases pending since January 2021.
