Apparel exports may touch $16 bn in 2012-13

Apparel Export Promotion Council (AEPC) says apparel

exports are expected to grow by 20 per cent to $16 billion (Rs 8,49,818 crores) during the current fiscal on the back of growing demand in the new markets like Latin America and Africa. “We are seeing this fiscal better than the last year. We expect a 20 per cent jump in 2012-13 from 13.4 billion (Rs 71,172 crores) in 2011-12,” Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said. He said the combined effort of the government and exporters to explore new markets would “give better fruits” this fiscal.

The growth is mainly expected to come from South America, Japan and Israel as demand in traditional markets such as the US, the UK, Germany and France has also started picking up. However, the Indian apparel industry is facing several challenges like labour, safety and health compliances in the global market. “There is a need to focus on those issues to increase our competitiveness in the global market,” Sakthivel added.