AEPC buoyant about US$18bn apparel export target

India is expected to achieve US$18 billion

(about Rs 100,000 crores) apparel export target set by the government for fiscal year 2012-13, according to Apparel Export Promotion Council (AEPC), the official body of apparel exporters in India. The country exported garments worth US$ 11.162 billion (about Rs 62,600 crores) in 2010-11, growing at a rate of 4.9 per cent year-on-year, against the target of US$ 12 billion (about Rs 67,000 crores), as per the data with the Directorate General of Commercial Intelligence and Statistics (DGCIS). Last fiscal, compared to its set target of US$ 14 billion (about Rs 78,500 crores), India managed to export clothing items worth US$ 13.699 billion (about Rs 76,850 crores), growing at a rate of 22.7 per cent year-on-year.

According to AEPC, reasons like favourable dollar rate, incentives announced in the Annual Supplement to Foreign Trade Policy (FTP) 2009-10, number of incentives by way of Focused Product & Market Scheme (FMS) and exporters’ efforts to explore new export territories like Japan, Australia, South Africa and countries in Latin America have been instrumental in pushing the segment towards meeting the targets. And it is optimistic about achieving export target of $18 billion (Rs 100,000 crores) set by the government for the current fiscal year.