Investments, innovation, integration with value chains to help India`s apparel sector register healthy growth: APEC
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The Apparel Export Promotion Council (AEPC) has said that healthy investments, innovation and integration with value chains will help India's textiles and apparel sector to register healthy growth in manufacturing and exports. Secretary general of AEPC Mithileshwar Thakur said the focus should be on building scale, skill and technology besides diversification of products basket and strengthening of Brand India.
He stated ‘My mantra for the exponential growth of the Indian Textiles and Apparel sector is investment, innovation and integration of the value chain. The idea is to align the industry's approach with the government's vision to make India a favoured textiles destination.’
AEPC said the apparel exports increased by 1.1 per cent to $16.20 billion in 2022-23 from $16.02 billion in 2021-22. It added India ramped up its global apparel exports in 2022-23 despite the Russia-Ukraine war, sluggish demand for apparel in major garment importing countries, stiff competition by other major apparel manufacturing countries and volatility in raw material prices at the beginning of the year.
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