Garment exports from India pick up again, China to face competition, benefit on employment front too
According to garment exporters, with the increase in demand from Europe and America, the orders received by China are also shifting towards India. Although it is very less right now it has started. With the increase in garment exports, the demand for fabric and yarn will also increase. The government has set a target of taking garment exports to $ 40 billion by the year 2030.
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This is good news for the entire textile industry along with employment generation because the process of increase in garment exports has started again after a full year. Given the new export orders, new recruitments have started again in the garment industry. During the last financial year, that is, 2023-24, there was a decline of 10.25 percent in all types of garment exports compared to the previous financial year, 2022-23.
This April, as compared to April last year, garment exports fell by 1.03 percent. They jumped up by 9.84 percent in May. As exporters say, given the new orders, this increase will continue in the coming months also.
Garment exporters say this shift in orders to India from China has started with an increase in demand from Europe and America. Although it is significantly low correct now, it has begun. As garment exports go up, the demand for fabric and yarn will jump, too.
The Apparel Export Promotion Council has also begun preparing to augment garment exports in the current financial year 2024-25. The government has set a target to take garment exports to $ 40 billion by 2030, whereas in the last financial year, garment exports were only $ 14.5 billion.
According to AEPC Chairman Sudhir Sekhri, Indian exporters will participate in 17 international fairs worldwide to increase garment exports. This year, we are trying to increase exports in the markets of countries like Saudi Arabia, Poland, Mexico, Brazil, Russia, and South Africa.
He shared that this trade pact with Britain and the European Union would also benefit exporters. Ever since the FTA with Australia, garment exports to that country have gone up by just 16.5 percent.
The same is corroborated by the Noida-based garment exporter Lalit Thukral, who says export orders are coming in more than before, and they have again begun hiring new artisans. Last year, due to fewer export orders,' production too decreased because new workers were not recruited.
