AEPC Eyes Oceania Region To Boost Indian Garment Exports
Date
11/16/2022 2:05:13 PM
(MENAFN- KNN India)
AEPC eyes Oceania region to boost Indian garment exports New Delhi, Nov 16 (KNN) The Apparel Export Promotion Council of India (AEPC) Chairman Naren Goenka on Wednesday said that they are focusing on pushing garment exports to Australia, New Zealand and other island countries in the Oceanic region.
While speaking about the AEPC members that are participating in Australia's International Sourcing Expo, Goenka said that the expo is a huge platform for the Indian garment exporters to showcase best apparel designs and styles in line with the latest fashion trends in a wide range of traditional cotton and MMF (man-made fibre) garments.
He said that Australia has traditionally been the topmost trading partner for Indian garment with our exports occupying a share of about 4 per cent of total Australian garment imports.
“We foresee a stronger presence in the Australian market appreciating the recently concluded Indo-Australia trade agreement,'' he said.
The free trade agreement would open huge business opportunities for Australian clothing brands to source from India considering the strengths of the domestic garment industry in terms of variety of raw material availability, Goenka added.
With total garment imports of USD 7.39 billion against India's exports of USD 0.29 billion, Indian garment industry has a huge scope for Australian companies to source from India.
'Goenka further pointed out that we are supported by the world's second largest spinning and weaving capacity, giving the industry an opportunity for a 95 per cent domestic value addition.
“India offers to the world a complete value chain solution from farm to fashion, giving us a competitive edge by shortened lead times to reach our buyers,” he stated.
India is one of the largest producers of cotton, silk and jute, technical textiles and viscose. It also produces all types of synthetic fibres, polyester, nylon and acrylic.
(KNN Bureau)
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