Apparel Export Promotion Council (AEPC) will be participating in three international fairs in the month of July 2022. The business delegation from the garment sector numbering total of 140 members will be participating in the three international fair namely; “Pure London” In Pure Origin at Olympia London, United Kingdom (17-19 July, 2022), India Tex Trend Fair (ITTF) Tokyo, Japan (20-22 July, 2022) and Sourcing at Magic, Las Vegas, USA (07 – 10 August, 2022), respectively.
Speaking on the ensuing business delegation, Naren Goenka, Chairman AEPC said, “These three markets (USA, UK and Japan) alone have a share of more than 38 percent of the total apparel exports market, valuing $6.8 bn in calendar year 2021. These shows will give an opportunity to exporters to showcase their products and supply capabilities of value-added products with special emphasis on the products designed to suit fashion trends and requirements.” The Indian apparel industry is all geared to cease the opportunity following the sustainable and ethical practices while offering best of the products to the world, Chairman added.
Speaking on the UK market Chairman AEPC said, “Apparel imports into the UK have witnessed a positive mark in the last 3 years despite of Covid 19. UK import from India in 2021 was $1092.1 mn registering a growth of 12.6 percent. At a category level, Woven garments hold a much better acceptance in the UK as compared to Knitted garments. The benefit from AEPC participation is, it will strengthen our position in the UK market before the India- UK FTA, which is expected to reduce the tariff further.”
For the USA market, Goenka stated, “While the US fashion companies continue to diversify their sourcing, Asia as a whole will remain dominant in 2022. Asian suppliers overall enjoy two competitive advantages as apparel sourcing bases: sourcing cost and flexibility and agility. Indian apparel exports to the USA in 2021 stood at $4497.3 mn registering a growth of more than 40 percent compared with last year.”
In the Japan market, knitted garments are getting more popular against woven. Apparel imports into Japan have witnessed a positive mark in the last 3 years despite of Covid 19 which allows Japan to import garments from India at zero duty. This gives India’s apparel industry a huge opportunity as Japan is the third largest apparel importer in the world.
Further Goenka said, “The Indian exporters have a unique niche as compared to its competitors; China and Vietnam. They can cater to both small size customised orders of 300 pieces to large orders as huge as 3 lakh pieces of one style. This makes most of the global apparel brands from EU, US, Australia, Japan, etc. source from India.”
