Narendra Goenka, AEPC: India on track becoming world's largest garment manufacturer

25 March 2022, Mumbai:

According to Narendra Goenka, Chairman of the Apparel Export Promotion Council (AEPC), India's surpassing of $400 billion in goods exports heralds the start of an age of exponential expansion and global supremacy.

In particular, in 2021-22, Indian garment exports were able to enhance their position in traditional export destinations such as the United States, the United Arab Emirates, the United Kingdom, and France.

The Indian textile sector is on track to become the world's largest manufacturer in the next three years, thanks to an emphasis on man-made fiber (MMF) garments, sustainability, and free trade agreements.

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"Indian exports reaching $400 billion is not only a tremendous achievement but will also prove to be a benchmark in the history of India's global commerce," he said in a statement.

The growth rates will be exponential from here on out, owing to our Prime Minister Narendra Modi's visionary leadership.

"In 2018-19, India easily eclipsed its all-time high of $330 billion in exports.

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Given the government's efforts to expand domestic industrial capacity, sign trade agreements, and foster a new entrepreneurial spirit in India, I predict goods exports to exceed $500 billion in 2019 fiscal," he said, adding that Indian garment exports are also expected to rise exponentially.

With programmes like RoSCTL, PLI, and PM-MITRA, the government has laid the groundwork for rapid expansion in the garment industry.

These will help to boost production, employment, and export capability in one of the industries with the greatest female workforce.

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CREDITS: Apparel Resources.