India’s readymade garments exports rose to $6.4 billion in April-August
New Delhi| Even amidst the global tense environment, readymade garment (RMG) exports have increased by 11.9 percent on an annual basis in August of the current financial year. India’s RMG exports have been around $6.4 billion between the April – August period of FY 2024-25.
According to the Apparel Export Promotion Council (AEPC), India’s RMG exports have increased at a time when logistics costs have increased due to the Red Sea crisis and there is a tense situation globally.
AEPC Chairman Sudhir Sekhri said India’s RMG exports have seen an average growth of 7.12 per cent between April and August 2024. While exports of readymade garments are increasing, exports of commodities have fallen to touch a 13-month low in August.
He further said, “It is very encouraging to see the industry strong. The industry is set to become a major global player of high growth rates and apparel exports with a focus on product quality as well as environmental and social compliance.”
AEPC General Secretary Mithileshwar Thakur said, “Our exports to Japan, Korea, Australia, Mauritius and Norway have increased by 7.7 per cent, 16.8 per cent, 12.5 per cent, 6.6 per cent and 17.3 per cent respectively in the first quarter of the current financial year”.
AEPC further said that this is a sector with high labor potential, which is ready for growth by taking advantage of the India demographic dividend. In such a situation, the industry needs the support of the government, because due to changing global situation, the world is looking at India as an alternative away from its traditional suppliers.
