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Apparel Export Promotion Council (AEPC) Chairman Naren Goenka has said that apparel exports rose by 11.7 per cent to about 1.2 billion in November 2022 after declining for the last few months amid global challenges. He said that exports of ready-made garments (RMG) from India witnessed a rough patch in the past few months since most of the traditional markets such as the UK, the EU and the US have been witnessing recession and global headwinds, leading to falling demand in these countries.

Goenka said inflation and rising costs of raw material and freight, aggravated by the Russia-Ukraine war, added to the burden of exporters. However, after a few months of slip, RMG exports have again turned positive signalling the resilience of the industry to adjust to the prevailing challenges. He also said that ‘the target for apparel exports for 2022-23 is $17.6 billion against which we have been able to achieve more than $10 billion during April - November 2022.’

AEPC has flagged certain issues with the government, the resolution of which will help in increasing exports. It said the major issues include early announcement of the production-linked incentive scheme for apparel, extension of ATUFS (Amended Technology Upgradation Fund Scheme), RoSCTL (Rebate of State and Central Levies and Taxes) disbursements through bank transfer, and one time relaxation on account of bankruptcy / insolvency / discounting / cancellation of export orders.