The exports of ready-made garments between April and September 2023-24 amounted to $ 6.92 billion.
The Apparel Export Promotion Council of India (AEPC) announced that apparel exports are anticipated to reach $ 40 billion by 2030, thanks to various initiatives such as exploring new markets and establishing strategic partnerships. Naren Goenka, Chairman, AEPC, stated that in order to achieve this ambitious goal, the council would concentrate on innovation, expanding market and product offerings, promoting sustainability, and adopting responsible business practices.
He mentioned, “We have set an ambitious goal of achieving apparel exports of $ 40 billion by the year 2030. This target, named ’40 by 30,’ signifies our dedication to reaching new milestones and pushing our boundaries in this decade.”
Furthermore, he revealed that Piyush Goyal, Union Commerce and Industry and Textiles Minister, would be honouring ready-made garment exporters with export awards on December 9. These awards aim to acknowledge the contributions of Indian apparel exporters in building contemporary businesses.
Goenka expressed, “In addition to enhancing our international trade, these exporters have played a significant role in shaping India’s reputation as a forward-thinking member of the global business community. They serve as role models for future generations of Indian exporters.”
The exports of ready-made garments between April and September 2023-24 amounted to $ 6.92 billion, reflecting a 15.3 per cent decrease from the corresponding period last year. In the financial year 2022-23, these exports totalled $ 16.2 billion.