New Delhi: According to data from the commerce ministry, despite challenges like high logistic costs, the country's ready-made garment exports (RMG) increased by approximately 12 per cent to reach USD 1.26 billion in August. The total RMG exports from April to August 2024-25 increased by 7.12 percent to reach USD 6.39 billion.
Sudhir Sekhri, Apparel Export Promotion Council (AEPC) Chairman, noted that despite global challenges like the Red Sea crisis and high logistic costs, exports continue to drive growth. He mentioned that RMG exports have defied the trend of decreasing merchandise exports, which hit a 13-month low in August, by growing at an average rate of 7.12 pc in the last five months (April to August 2024-25). He said that by emphasizing product quality and meeting environmental and social standards, the industry is ready to experience significant growth and become a leading global exporter of clothing.
I feel optimistic about the potential for the growth trend to persist. As the global garment sourcing landscape shifts, we are prepared to take on a significant role. Sekhri stated that continuous policy support for garment export schemes in the long run will ensure stability in policies and boost garment exports from the country. The council has proposed to the government for more flexibility in fabric import, PLI 2.0 for increasing capacity, and extending the interest equalization scheme for at least five years with a 5 pc higher rate for all exporters.
FIRST Business Portal addressing the potential of business capability of North East Region.
