Apparel exports to register 40 per cent expansion in FY21: AEPC

Apparel exports from India will expand by about 40 per cent this fiscal, the Apparel Export Promotion Council (AEPC) said on Thursday.

Apparel exports from India will expand by about 40 per cent this fiscal, the Apparel Export Promotion Council (AEPC) said on Thursday. "We are working with a target to achieve 40 per cent increase in apparel exports this financial year with a major focus on new medical textiles. This will take our total apparel exports up from 15.4 billion dollars last fiscal to about 22 billion dollars in 2020-21," said Chairman A Sakthivel.

Addressing 41st annual general meeting of the council, he said that though COVID-19 is the most disruptive health crisis in modern human history, India and the world will achieve faster progress and new quality of development post-COVID as every adversity presents multiple new opportunities. Sakthivel said the trading environment in the United States is looking good and there are positive sentiments for engaging with India as a reliable partner in the global value chain.

The AEPC has asked the government for a free trade agreement with the United States. Besides, the council has asked for a thorough review of all existing trade pacts with the European Union, the United Kingdom, Australia and Canada to remove the disadvantages.