Driving $40 billion in apparel exports by 2030 for a prosperous India by 2047.
Global trade finance solutions provider Stenn participated in a panel discussion hosted by the Apparel Export Promotion Council (AEPC) to assess the impact of the Union Budget 2024-25 on India's textile and apparel industry. The event brought together industry leaders, economists, and experts to strategize ways to enhance apparel exports.
The panel, moderated by AEPC Secretary-General Mithileshwar Thakur, delved into the budget's long-term vision for the sector, India's potential as a global apparel manufacturing hub, and the need for innovation, sustainability, and investment in raw materials. Participants emphasized the importance of collaboration to achieve the ambitious $40 billion apparel export target by 2030, aligned with Prime Minister Narendra Modi's 'Viksit Bharat' vision.
Stenn's Senior Director, Priyesh Ranjan, commended the government's increased allocation for the textile sector to ₹4,417.09 crore, compared to ₹974 crore in the previous budget.
He also applauded the introduction of e-commerce export hubs and improved credit guarantee schemes for small and medium-sized businesses. Ranjan highlighted Stenn's role in facilitating trade finance solutions for apparel manufacturers, emphasizing the company's commitment to supporting the industry's growth.
The event attracted a diverse audience, reflecting the industry's collective focus on achieving sustainable growth.
