Addressing an Apparel Exports Promotion Council (AEPC) awards occasion in New Delhi yesterday, Radhakrishnan stated India earlier had just a few rivals globally in garment exports, however now the record of such nations contains Bangladesh, Laos, Cambodia, Vietnam and several other African international locations.
India ought to signal more FTAs to achieve a level-playing subject in world textile and attire export markets with rivals like Bangladesh, Vice President C P Radhakrishnan informed an AEPC awards occasion in New Delhi yesterday.
He stated India earlier had just a few rivals globally in garment exports, however the state of affairs has modified now.
The solely constraint is the FTA with the US is “a little uncertain”, he famous.
“So FTA is a must… it is the greatest advantage they are having,” Radhakrishnan was quoted as saying by a information company.
India goals at reaching a textile market measurement of $350 billion by 2030, with $100 billion in textile exports, he stated, urging the attire business to actively discover new markets and undertake eco-friendly manufacturing practices, accountable sourcing and techniques to minimise waste.
The solely constraint immediately is the FTA with the United States is “a little uncertain”, he famous, including that it is just a matter of time.
Acknowledging a number of constraints on the Indian textile and attire business due to geopolitical state of affairs, he expressed confidence that India’s textiles exports will double in the following three years.
India’s textiles and attire exports stood at $37.75 billion in fiscal 2024-25.
Fibre2Fashion News Desk (DS)