Apparel export defy global headwinds

Despite the global headwinds such as the ongoing West Asia crisis, Russia-Ukraine conflict, global logistical challenges, tariff uncertainties by the US and slowdown in many global markets, India's ready-made garment exports grew 12.8% on year reaching $2.89 billion in the April-May, chairman of Apparel Export Promotion Council Sudhir Sekhri said. “With the geopolitical realignment of supply chains, government policy push & incentives, sustainability practices and availability of natural fibers couple with the skill heritage and digitisation India’s garment export is poised to touch $ 40 billion target by 2030,” he said at the inauguration of India International Garment Fair. Speaking at the event, minister of state for textile and external affairs Pabitra Margherita said,” In 2023-24 alone, we exported textile product worth $34.4 billion with apparel accounting for 42% of that. We now aim to cross $ 100billion in textile export by 2030.” The India –UK FTA, and our ongoing negotiations with the EU and the EU will Open up new avenues for growth, the minister added.