Indian garment exporters are looking forward to a potential free trade agreement (FTA) with the United Kingdom to boost shipments after textile exports declined for the second consecutive year.
Readymade garment exports to Mauritius and Australia, which recently signed FTAs with India, jumped 16.8 per cent and 5.7 per cent, respectively, in the first eight months of the current fiscal year (April-February 2023-2024) compared with the same period last year.
Sudhir Sekhri, chairman of the Apparel Export Promotion Council (AEPC), said, “The success of the recently concluded FTAs with Mauritius and Australia bodes well for a potential deal with the UK, which currently accounts for 8 per cent of India’s apparel exports.”
India’s textile and apparel exports have fallen by 3.24 per cent in 2023-2024 and 16.3 per cent in 2021-2022 compared with the previous year.
To address this decline and achieve the target of $40 billion in garment exports by 2030, the AEPC is implementing a multi-pronged strategy.
It plans to participate in 17 international trade fairs globally, focusing on emerging markets such as Saudi Arabia, Poland, Mexico, and South Africa. The association also plans to host the second edition of “Bharat Tex”, an exhibition showcasing Indian textile and garment capabilities, to increase outreach to potential buyers.
Rohit Kansal, additional secretary of the ministry of textiles, stressed the importance of closer collaboration between manufacturers and brands. “Stronger engagement will build trust and ensure compliance with international standards,” he said.
Shubhra, trade adviser in the ministry of textiles, highlighted the need for capacity expansion.
