Exports Target of $15 Billion Ambitious But Achievable: AEPC, Exports Target of $15 Billion in India, AEPC Set $15 Billion Exports Target, Indian Textile Exports Target

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SME Times News Bureau | 12 Jun, 2010
The Apparel Export Promotion Council (AEPC) has said the export target of USD 15 billion set by the textile ministry is ambitious but achievable.

In a presentation before textile secretary Rita Menon, AEPC's secretary general Vimal Kirti Singh said, "If we look at the performance of apparel exports in previous financial years, we may set a target of USD 12.24 billion for the current fiscal 2010-11 with a growth of 10 to 15 percent in the year-on period."

In 2009-10, the country exported garments worth USD 10.64 billion.

Singh said the target of USD 15 billion set by the textile ministry is in line with post-quota projections and plan targets. "If price competitiveness can be attained, India can become the second most preferred sourcing destination," he said.

Additional USD 5 billion of exports will require production of 1.65 billion additional shirts, incremental fabric consumption of 2.85 billion meters, 450 million to 500 million kg of yarn, 425 billion meters of sewing thread, USD 400 million of accessories like buttons, tags and labels, and additional 375,000 containers of shipping space.

This will create an additional employment for five million people through the value chain, said Singh.

The target set by the textile ministry can be achieved provided the ongoing free trade agreement with countries and regional blocks like the European Union can be concluded successfully, he added hoping that the global economic scenario will not deteriorate further and apparel export markets remain buoyant throughout the year.

Singh said the rising inflation has increased input costs which have directly impacted the price competitiveness of Indian apparel exports. Thus there is need for incentive base support from the government in the form of robust market focus schemes and focus product schemes.

Exporters also need to protected from volatility of Indian rupee against the US dollar and the euro. Besides, raw materials like cotton yarn and fabrics should be made available at reasonable prices in domestic markets. There is also a need to put a cap on export of input items for apparel to reverse deficiencies in domestic markets, said Singh.