New Delhi December 11, 2013: Apparel exports have grown 15.5 per cent the first seven months of the fiscal to $8.2 billion due to revival of demand in the US and the EU.
The Government is now all set to increase the export target for next year from the current $17 billion.
“I am confident that we are on the road to recovery. Signs of its revival are visible in the US and EU, which guided my instinct to revise the apparel export target to $17 billion this year. Let’s keep a high target next year,” Commerce Secretary S.R. Rao said at an awards function of the Apparel Export Promotion Council on Tuesday.
He said it was possible to export $60 billion worth of garments in the next three years.
Textiles Minister K.S. Rao, who also spoke on the occasion, underlined the need to innovate and explore new non-traditional markets such as Israel, Russia, Brazil and Japan.
“New markets should be perceived actually as a new growth opportunity,” he said.
The garment sector needs to identify key areas to work on, focus their energies on evolving new markets, and establish brand India, said Textiles Secretary Zohra Chatterji. The Hindu
