Apparel Export Promotion Council (AEPC) recently created a flurry of disbelief with its announcement that the apparel exports from the country will expand by about 40 per cent this fiscal. In an official statement, the Council declared, “AEPC is working with a target to achieve a 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 US $ 15.4 billion last fiscal to about US $ 22 billion in 2020-21.”
The statement seems to be based on some positive indications which show that India will have more business in the coming days, like industry leaders confirmed that they are receiving orders that were earlier being done by China.
Further, India is witnessing month-over-month (M-o-M) growth. As compared to June ’20 export figures of US $ 803.37 million, India grew by 32.33 per cent in July ’20. In addition, some apparel manufacturing companies now have a major focus on medical textile products. Even SMEs are focusing on products like surgical gowns, etc.
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