Apparel exports are expected to increase 40% this financial year mainly because of the focus on medical textiles, according to industry body AEPC.
“We are working with a target to achieve a 40% increase in apparel exports this financial year with major focus on new medical textiles,” said A. Sakthivel, chairman, Apparel Export Promotion Council (AEPC).
“This will take our total apparel exports up from $15.4 billion last financial year to about $22 billion in 2020-2021,” he said.
Speaking at the virtual annual meeting of the Council, Mr. Sakthivel also said with the government lifting export ban on many PPE items, apparel exporters should venture into man-made fibre-based (MMF) garments in a big way.
“The need of the hour is to quickly engage in product diversification into MMF. We plan to sign MoUs with a number of MMF manufacturers to improve the sector. MMF is the key to increasing India’s textile exports to the global market,” he said.
To facilitate R&D in various fibres and technologies, the council is also setting up an R&D centre at its head office at Gurugram.