India' s apparel exports rising, fast tracking trade deals to give a boost

India' s monthly merchandise exports in December 2021 were 37 per cent higher than they were in December 2020. Export of readymade garments grew 22 per cent from December 2020 to December 2021. Exports from April 2021 to December 2021 were 35 per cent higher than they were in the same period in 2020. This is despite the fact local restrictions impacted operations in the first quarter during the second wave of the pandemic. So in spite of challenges Indian apparel exporters performed creditably and India has a fast growing order book from brands and buyers across the world. India' s exports in October 2021 rose 43 per cent compared to October 2020.

As per Sakthivel, Chairman, AEPC says, further, fast tracking trade deals with the US, UK, EU and UAE will make Indian apparels far more attractive. Going by trends, India is expected to achieve the merchandise export target for the current fiscal. Mega schemes have helped India reclaim its global leadership position in textiles and apparels. However the PLI scheme is said to be more beneficial if the investment and turnover targets are reduced by 50 per cent as most players in the apparel industry are in the micro, small and medium segments. Further, fast tracking of trade deals with the US, UK, EU and UAE will make Indian apparels far more attractive.