According to the Apparel Export Promotion Council (AEPC), exports of India’s garment is poised to register a positive growth in 2017-18. AEPC has an ambitious target for export and job creation in the next three years. The garment export industry was poised to grow in 2017 with the initiatives announced by the government along with the good quality products aided by innovative design prowess that will drive the change for the industry.
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Garment sector in Myanmar is expected to earn $2 billion in 2016-2017. Exports from the garment sector earned nearly 1.7 billion dollars last year. The sector is likely to grow five times more than its current status and employ between 3,00,000 and a million laborers by 2024. The aim is to reach a garment export value of ten billion dollars by 2024.
The Government of India has recently announced a scheme targeting at its garment export to reach $30 billion in three years. Prime Minister Modi’s government recently unveiled a scheme with an annual outlay of about (Rs 6,000 crore that will enable the country to reach $30 billion in garment export in three years. The scheme is labour friendly and empowers women and underpriviledged working in the garment and allied sectors. In three years, the initiative is expected to attract additional investments worth $11 billion and will provide 10 million new jobs.