India's ready-made garment (RMG) exports surged by 11.9 per cent in August 2024 compared to the same month in 2023, with cumulative exports for April-August 2024-25 reaching $6.395 billion.
Sudhir Sekhri, Chairman of AEPC, emphasized the resilience of the apparel industry amid global challenges like inflation, logistical costs, and the ongoing Red Sea crisis. Despite these hurdles, RMG exports have grown at an average of 7.12 per cent over the last five months, outperforming other merchandise exports, which saw a downturn in August. Sekhri highlighted the industry’s commitment to product quality and compliance with environmental and social standards, positioning India for further global growth.
He expressed optimism about sustaining this growth, noting that India's garment sector is well-prepared to take advantage of shifting global sourcing trends. Long-term policy support, he added, is crucial to providing stability for garment exporters.
In addition, Sekhri outlined AEPC’s 7-point charter of demands to the government, which includes flexibility in fabric imports, the introduction of PLI 2.0 for capacity growth, and an extension of the interest equalization scheme for five years with an increased rate of 5 per cent. Other demands include a level playing field in key markets like the EU and incentives for ESG compliance.
Mithileshwar Thakur, Secretary General of AEPC, highlighted the trust global brands are placing in Indian products. He noted export growth to Japan, Korea, Australia, Mauritius, and Norway by 7.7 per cent, 16.8 per cent, 12.5 per cent, 6.6 per cent, and 17.3 per cent, respectively, in the first quarter of 2024-25.
Thakur added that the RMG sector is key to generating employment for India's youth and women, stressing the need for government support as global sourcing shifts due to geopolitical changes.
