AEPC: Indian apparel opportunity gets big as China declines in Japanese market
10 February 2023, Mumbai
The maiden edition of Upnext India 2023, is part of a series of reverse buyer-seller meetings organized by the Apparel Export Promotion Council (AEPC) and supported by the Ministry of Commerce and Industry under the Market Access Initiative (MAI) Scheme to give an impetus to the sector given muted global demand.
The first edition of the show, which is focused on Japan, was inaugurated by Naren Goenka, Chairman AEPC, and other members of the council, in the presence of international buyers and exhibitors to make the best out of this timely initiative.
As per AEPC making a business case for the industry an event where around 84, eminent Japanese Buyers will be sourcing their requirements from in excess of some 112 Indian merchant exporters/suppliers, exhibiting an array of a diverse unique range of RMG products in the times when China plus one is global flavour.
It is interesting to note that Japan, which is the fourth largest readymade garment importer in the world, is looking to increase trade with India due to a decline in garment exports from China against hitherto very high reliance on it.
India being a complete supply chain with plentiful availability of raw materials, such as cotton, jute, silk, and wool, and its world-class spinning and weaving capacity, give it an advantage over other countries.
The Indian apparel industry is also foraying and diversifying into new areas, such as MMF garments, which provides a complete value chain solution from farm to fashion given MMF is already a big global opportunity.
