To expand their market in Japan, the domestic apparel industry needs to capitalise on the free trade agreement (FTA) between the two countries, states Apparel Export Promotion Council (AEPC). The Council leads a delegation featuring over 2,000 exhibitors at the India Tex Trend Fair (ITTF) in Tokyo from July 23-25, 2024.
The fair features prominent Indian exhibitors from across the country displaying a diverse range of readymade garments (RMG) across various categories, including summer and winter collections, notes SudhirSekhri, Chairman, AEPC. Japanese brands, including Sumitomo Corporation, MUJI, Toyoshima, Marubeni, Mitsubishi, Koyo Trading, United Arrows, and MYK Fashion will also participate in the trade fair.
With Indian apparel having duty-free access to Japan under the Indo-Japan trade agreement, compared to a 9 per cent duty for Turkey and 9.5 per cent for China, Indian readymade garment manufacturers and exporters will benefit from participating in this fair, Sekriemphasises
A robust Indian garment industry, with a complete value chain and unique offerings, provides substantial scope for Japanese trading companies to source from India. Additionally, there are stronger opportunities for trade diversion as China's share in this market continues to decline. Known for their flexibility, Indian suppliers can cater to both small, customised orders and large-scale orders, he adds.
