Founder and Managing Director of Export Industries Narendra Kumar Goenka took over as the Chairman of the Apparel Export Promotion Council (AEPC) and expressed hope that the sector's outbound shipments would record healthy growth in the coming months. He has replaced A Sakthivel.
Goenka said the sector is witnessing robust growth in exports and going by the orders in hand, this positive trend will further accelerate in the last quarter
"Apparel exports were 22 percent up at $1.46 billion in December 2021 from $1.20 billion in December 2020. The same in the first nine months of this fiscal stood at $11.13 billion 35 percent more than $8.22 billion in April- December 2020. The trend is getting stronger," he said.
Despite several disruptions in the global supply chain and demand, the Indian apparel industry demonstrated its resilience by gradually inching back to the pre-pandemic growth path, he said, adding by the end of this financial year, "we will be looking at new targets"
Goenka’s Texport Industries is one of the largest apparel manufacturer-exporters in India and he has been associated with the council for more than two decades. He was the Vice Chairman of the apex body of the Indian apparel exporters before taking charge as Chairman.
"With global demand picking up gradually and industry reporting handsome orders in hand, apparel exports are likely to pick up in 2022. We need to strongly focus on efforts for promoting Brand India, taking suitable measures to ensure sustainability and other social compliances, " Goenka said.
He also said that India has been facing duty disadvantages against competitors like Bangladesh, Cambodia, Turkey, Pakistan, and Sri Lanka in major overseas destinations and fast-tracking FTAs (Free Trade Agreements) can give India a level playing field in these markets.