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RMG Exports Defy Global Trends, Marking an 11.9% Growth: AEPC Chairman
Ready Made Garment (RMG) exports buck the trend of declining exports despite persisting global challenges, registers 11.9% growth: Chairman AEPC
- Old FTA partner countries show growth
19th September; New Delhi/ Gurugram: Despite persistent global challenges, the Ready Made Garment (RMG) exports of India have bucked the trend of declining global trade, registering an 11.9% growth in August 2024 compared to the same period last year. Cumulatively, RMG exports from April to August 2024-25 reached USD 6395.0 million, demonstrating resilience in the face of global economic pressures, logistical costs, and inflation.
Chairman of the Apparel Export Promotion Council (AEPC), Shri Sudhir Sekhri, highlighted the industry’s continued growth despite global disruptions. He praised the sector’s focus on product quality and compliance with environmental and social standards, positioning it as a strong global player. While merchandise exports across other sectors saw declines, the RMG industry averaged a 7.12% growth rate over the last five months.
Looking ahead, Chairman Sekhri expressed optimism, stating that continued policy support for garment export schemes would ensure stable growth. He also emphasized the importance of flexibility in fabric import, capacity augmentation through PLI 2.0, and an extension of the interest equalization scheme.
AEPC Secretary General Shri Mithileshwar Thakur echoed this sentiment, pointing out that increased trust from global brands in Indian-made garments was driving this positive trend. Countries like Japan, Korea, Australia, and Norway have all seen significant increases in RMG imports from India, demonstrating growing confidence in Indian apparel exports.
The RMG sector is also a key player in generating employment, particularly for women and youth, making it a vital industry for harnessing India’s demographic advantage. With the global supply chain realigning, India is well-positioned to emerge as a leading alternative to traditional sourcing destinations, further driving the growth of the sector.
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