The AEPC says its target of exporting apparels worth USD 15 billion is achievable.
The Apparel Export Promotion Council (AEPC) says that its target of exporting apparels worth USD 15 billion for 2010-11, is achievable. This is because the sector is highly dominated by micro, small and medium enterprises (MSMEs).The MSMEs have the potential to increase their supplies and contribute significantly to the higher export growth.
Vimal Kirti Singh the secretary general of AEPC said that a target of USD 15 billion for the current financial year is achievable provided apparel exporters, including MSMEs in the sector are assured regular availability of raw materials at a reasonable prices and government extends duty drawback sops. Moreover, he says, if the small scale apparel exporters can attain price competitiveness, then India can become the leading apparel sourcing destination for chief markets and achieve the set target .
Singh said that the free trade agreement (FTA) between India and the European Union, that is likely to come through in the next few days will work in favour of the MSME- dominated apparel industry of India as it will lead to surge in export of apparel goods.