: Indian apparel exporters should aspire for double digit share: Vice President #FinanceIndia #StockMarketNEWS Indian apparel exporters should aspire for double digit share: Vice President New Delhi,

@StockMarketNEWS Mon 25 Jan, 2021

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Indian apparel exporters should aspire for double digit share: Vice President #FinanceIndia #StockMarketNEWS
Indian apparel exporters should aspire for double digit share: Vice President New Delhi, Jan 21 (KNN) Vice President M Venkaiah Naidu said that the Indian apparel exporters must aim to capture a double digit share of the world apparel market from its current level of 5-6 per cent through upskilling and use of latest technologies.

Inaugurating the 24x7x365 virtual platform of Apparel Export Promotion Council’s (AEPC) on Thursday, Naidu congratulated the AEPC and its 8,600 member exporters for their entrepreneurial spirit in creating their own virtual platform for export promotion.

“I am confident that all these efforts along with the support of the Ministry will boost Indian apparel exports. We should soon aspire to reach a double digit share in export of fabrics with proper encouragement and branding,” the Vice President said.

The virtual exhibition platform will showcase Indian apparels round the year and will host B2B meetings. Considering the travel restrictions due to Covid-19 pandemic, the platform is seen as a better alternative in terms of both economy and convenience.

Naidu said that the sector should ponder the reasons why India, despite being the leading producer and exporter of cotton, jute, silk and MMF yarns, lacks the competitive edge in fabrics and apparels when compared to Bangladesh and China.

“They are the biggest buyers of Indian yarn. They add value to it and sell the fabrics and apparels at a lower cost than India. This is largely due to the unorganised and dispersed nature of the weaving sector in India. We need to have more Tirupurs,” he said.

Congratulating AEPC Chairman Dr A Sakthivel for his dynamic leadership, Naidu said, “This is another milestone in our journey towards Atmanirbharta. If we upskill, provide opportunities and technology, we can capture the world market once again. ”

Minister of Textiles Smriti Zubin Irani said that Indian apparel industry created world history by establishing Rs 7,000 crore (1 billion dollars) Personal Protective Equipment (PPE) and N95 mask industry in the midst of pandemic in just two months.

“Reflecting the same enterprise, AEPC has now created a virtual platform. It will give rise to opportunities for over 300 top exporters in the country. But knowing that AEPC is a 8,600-member family, I am hopeful that the platform specially gives space to those who innovate, who belong to the SME segment, who are start-ups as young innovators need a supporting hand,” Irani said.

The Minister appreciated Dr Sakthivel’s role in supporting the Indian apparel industry over the years and especially during the pandemic as AEPC Chairman.