India’s official body of apparel exporters, Apparel Export Promotion Council (AEPC) will be participating in three international fairs in July and August this year.
Its 140 members will be participating in three international fairs, namely “Pure London” In Pure Origin at Olympia London, UK (17-19 July 2022), India Tex Trend Fair (ITTF) Tokyo, Japan (20-22 July 2022) and Sourcing at Magic, Las Vegas, USA (07-10 August 2022), respectively.
USA, UK and Japan alone have a share of more than 38 per cent of India’s total apparel exports market, valuing US $ 6.8 billion in calendar year 2021.
Commenting on this,Naren Goenka, Chairman, AEPC, said “These shows will give an opportunity to exporters to showcase their products and supply capabilities of value-added products with special emphasis on the products designed to suit fashion trends and requirements.”
UK import from India in 2021 was US $ 1,092.1 million, registering a growth of 12.6 per cent. At a category level, woven garments hold a much better acceptance in the UK as compared to knitted garments. “The benefit from AEPC participation is, it will strengthen our position in the UK market before the India-UK FTA, which is expected to reduce the tariff further,” said Naren.
About the US market, he stated, “While the US fashion companies continue to diversify their sourcing, Asia as a whole will remain dominant in 2022. Asian suppliers overall enjoy two competitive advantages as apparel sourcing bases: sourcing cost and flexibility and agility.”
Indian apparel exports to the USA in 2021 stood at US $ 4,497.3 million registering a growth of more than 40 per cent compared with last year.
Japan, the third largest apparel importer in the world, has a tilt towards knitted garments against woven. Japan has no duty on apparel import from India.
“The Indian exporters have a unique niche as compared to its competitors; China and Vietnam. They can cater to both small size customised orders of 300 pieces to large orders as huge as 3 lakh pieces of one style. This makes most of the global apparel brands from EU, US, Australia, Japan, etc. source from India,”said Naren.
