India’s ready-made garment exports (RMG) increased͏͏ by͏͏ approximately͏͏ 12%͏͏ in͏͏ August,͏͏ reaching͏͏ USD͏͏ 1.26͏͏ billion,͏͏ according͏͏ to͏͏ data͏͏ from͏͏ the͏͏ commerce͏͏ ministry.͏͏ For͏͏ the͏͏ April-August͏͏ period͏͏ of͏͏ 2024-25,͏͏ cumulative͏͏ RMG͏͏ exports͏͏ rose͏͏ by͏͏ 7.12%͏͏ to͏͏ USD͏͏ 6.39͏͏ billion,͏͏ despite͏͏ facing͏͏ global͏͏ challenges͏͏ like͏͏ high͏͏ logistics͏͏ costs.
Resilience͏͏ Amid͏͏ Global͏͏ Challenges:
Sudhir͏͏ Sekhri,͏͏ Chairman͏͏ of͏͏ the͏͏ Apparel͏͏ Export͏͏ Promotion͏͏ Council͏͏ (AEPC),͏͏ stated͏͏ that͏͏ exports͏͏ are͏͏ maintaining͏͏ their͏͏ growth͏͏ momentum͏͏ despite͏͏ global͏͏ challenges,͏͏ including͏͏ the͏͏ ongoing͏͏ Red͏͏ Sea͏͏ crisis͏͏ and͏͏ high͏͏ logistics͏͏ costs.
“With͏͏ an͏͏ average͏͏ growth͏͏ of͏͏ 7.12%͏͏ over͏͏ the͏͏ past͏͏ five͏͏ months͏͏ (April͏͏ to͏͏ August͏͏ 2024-25),͏͏ RMG͏͏ exports͏͏ have͏͏ defied͏͏ the͏͏ trend͏͏ of͏͏ declining͏͏ merchandise͏͏ exports,͏͏ which͏͏ fell͏͏ to͏͏ a͏͏ 13-month͏͏ low͏͏ in͏͏ August,”͏͏ he͏͏ noted.
He͏͏ added͏͏ that͏͏ by͏͏ prioritising͏͏ product͏͏ quality͏͏ and͏͏ ensuring͏͏ environmental͏͏ and͏͏ social͏͏ compliance,͏͏ the͏͏ industry͏͏ is͏͏ set͏͏ to͏͏ embark͏͏ on͏͏ a͏͏ high-growth͏͏ trajectory͏͏ and͏͏ become͏͏ a͏͏ significant͏͏ global͏͏ player͏͏ in͏͏ garment͏͏ exports.
Continue͏͏ Exploring:͏͏ Showroom͏͏ B2B͏͏ raises͏͏ $6.5͏͏ Million͏͏ in͏͏ Pre-series͏͏ A͏͏ funding͏͏ to͏͏ amplify͏͏ phygital͏͏ presence͏͏ in͏͏ unbranded͏͏ garments market
Optimism͏͏ for͏͏ Continued͏͏ Growth:
“I͏͏ am͏͏ optimistic͏͏ that͏͏ the͏͏ growth͏͏ momentum͏͏ will͏͏ persist.͏͏ As͏͏ global͏͏ garment͏͏ sourcing͏͏ undergoes͏͏ realignment,͏͏ we͏͏ are͏͏ prepared͏͏ to͏͏ play͏͏ a͏͏ crucial͏͏ role.͏͏ Long-term͏͏ policy͏͏ support͏͏ for͏͏ garment͏͏ export͏͏ schemes͏͏ will͏͏ ensure͏͏ stability͏͏ in͏͏ the͏͏ policy͏͏ framework͏͏ and͏͏ will͏͏ further͏͏ boost͏͏ exports͏͏ from͏͏ the͏͏ country,”͏͏ Sekhri͏͏ stated.
The͏͏ council͏͏ has͏͏ submitted͏͏ a͏͏ request͏͏ to͏͏ the͏͏ government͏͏ for͏͏ greater͏͏ flexibility͏͏ in͏͏ fabric͏͏ imports,͏͏ the͏͏ introduction͏͏ of͏͏ PLI͏͏ 2.0͏͏ for͏͏ capacity͏͏ expansion,͏͏ and͏͏ the͏͏ extension͏͏ of͏͏ the͏͏ interest͏͏ equalisation͏͏ scheme͏͏ for͏͏ a͏͏ minimum͏͏ of͏͏ five͏͏ years,͏͏ with͏͏ an͏͏ increased͏͏ rate͏͏ of͏͏ 5%͏͏ for͏͏ all͏͏ exporters.
Mithileshwar͏͏ Thakur,͏͏ Secretary͏͏ General͏͏ of͏͏ AEPC,͏͏ noted͏͏ that͏͏ RMG͏͏ exports͏͏ have͏͏ shown͏͏ a͏͏ positive͏͏ trend͏͏ in͏͏ recent͏͏ months.
“FTA͏͏ partner͏͏ countries͏͏ such͏͏ as͏͏ Japan͏͏ and͏͏ Korea͏͏ have͏͏ begun͏͏ to͏͏ deliver͏͏ positive͏͏ results.͏͏ Our͏͏ exports͏͏ to͏͏ Japan,͏͏ Korea,͏͏ Australia,͏͏ Mauritius,͏͏ and͏͏ Norway͏͏ have͏͏ also͏͏ increased͏͏ in͏͏ the͏͏ first͏͏ quarter͏͏ of͏͏ this͏͏ fiscal͏͏ year,”͏͏ Thakur͏͏ added.
