Friday, September 30, 2022

AEPC will participate in three international fairs in USA, UK and Japan

Apparel Export Promotion Council (AEPC) will participate in three international fairs in the month of July and August respectively in UK, Japan and USA.

A total of 140 members will be involved in the apparel sector’s trade delegation at the three international fairs.

The UK fair is scheduled to be held from 17 to 19 July, followed by Japan from 20 to 22 July and the final fair in the USA in Las Vegas from 7 to 10 August.

Speaking on the upcoming trade delegation, AEPC Chairman, Naren Goenka said, “These three markets (USA, UK and Japan) alone account for more than 38% of the total apparel export market, which will be estimated at USD 6.8 billion in calendar year 2021. Dollar value. These shows will provide an opportunity to the exporters to showcase their products and supply capabilities of value added products with special emphasis on products designed in line with fashion trends and requirements.

The Chairman said that the Indian Apparel Industry is ready to seize the opportunity by adhering to sustainable and ethical practices while offering the best products to the world.

Emphasizing on the UK market, AEPC Chairman said, “Apparel imports to UK have seen a positive mark in the last 3 years despite COVID 19. UK imports from India in 2021 stood at USD 1092.1 million, a growth of 12.6%. registers growth.”

On a category level, woven fabrics have better acceptance in the UK than woven fabrics. He added that the benefit of AEPC’s participation is that it will strengthen our position in the UK market ahead of the India-UK FTA, which is expected to further reduce tariffs.

As for the United States market, Goenka said, “While American fashion companies continue to diversify their sourcing, Asia will continue to dominate in 2022. Asian suppliers enjoy two competitive advantages as the overall apparel sourcing base.” Let’s take: sourcing cost and flexibility and agility.Indian apparel exports to the United States in 2021 stood at USD 4497.3 million, registering a growth of over 40% over the previous year.

In Japan market, woven fabric is becoming more popular than woven. Apparel imports in Japan have seen a positive mark in the last 3 years despite COVID 19, which allows Japan to import garments from India at zero duty.

He said that this presents a huge opportunity for India’s apparel industry as Japan is the third largest importer of apparel in the world.

Goenka further added, “Indian exporters have a unique niche as compared to their competitors; China and Vietnam. They can fulfill both customized orders ranging from a small size of 300 pieces to a large order up to 3 lakh pieces of a single style. It sources most of the global apparel brands from EU, USA, Australia, Japan etc. from India.

Nation World News Desk
Nation World News Desk
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