India set to create global garment dominance in next 3 years: AEPC President

India set to create global garment dominance in next 3 years: AEPC President

New Delhi, March 24 (KNN) As India achieves $400 billion in merchandise exports, Garment Export Promotion Council (AEPC) Chairman Narendra Goenka has expressed hope that India will become the garment factory of the world in the next three years.

“Indian apparel exports are too poised for exponential growth. The government has prepared the ground for rapid growth in the garment sector with programs such as RoSCTL, PLI and PM-MITRA. These will further increase the production, employment and export capacity of one of the largest employment sectors with maximum female labor,” he added.

Goenka congratulated and thanked the government and industry for achieving the goal and said, “From here the growth rates are going to be exponential.

He credited the various government incentives that have helped boost manufacturing across all sectors and the policy of Made in India for the world.

“Given the ground work being done by the government to build the capacity of domestic industry, the signing of trade agreements and the new entrepreneurial spirit in India, I expect merchandise exports to exceed $500 billion in the next fiscal year,” he said.

Goenka highlighted how India’s Ready Made Garments (RMG) exports have been able to strengthen its position in the traditional export destinations of USA, UAE, UK and France in 2021- 22.

“With a focus on man-made fiber garments (MMF), sustainability and FTAs, India’s apparel sector will become the garment factory of the world in the next three years,” he said. declared. (KNN Office)

Michael O. Stutler