AEPC

India Aims for Quantum Leap in Textile Exports with Japan

The 14th edition of the India Tex Trends Fair was inaugurated today with a focus on boosting bilateral apparel trade. The event, held in Tokyo, was graced by the presence of Indian Ambassador to Japan, His Excellency Sibi George, and other high-level officials from both countries.

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Ambassador George emphasized the potential of the textile sector to drive India-Japan economic cooperation, aiming to increase the number of successful partnerships from 1500 to 15,000. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhi highlighted the growth of Indian participation in the fair, from 70 exhibitors seven years ago to 250 this year.

India is positioning itself as a reliable and sustainable apparel manufacturing hub, with a strong emphasis on environmental, social, and governance (ESG) practices. The launch of the Kasturi cotton brand, which ensures traceability through blockchain technology, further solidifies India's commitment to transparency and quality.

With duty-free access to the Japanese market under the India-Japan Comprehensive Economic Partnership Agreement (CEPA), Indian apparel exporters are optimistic about expanding their footprint in Japan. The fair brings together 250 Indian exhibitors showcasing a wide range of apparel products, aiming to capitalize on the declining share of China in the Japanese market.

The event is expected to witness significant business deals between Indian exporters and prominent Japanese brands and retailers.

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UnionBudget2024

AEPC Chairman Praises Union Budget 2024-25

Sudhir Sekhri, Chairman of the Apparel Export Promotion Council (AEPC), expressed his positive views on the Union Budget 2024-25 presented by Union Finance Minister Nirmala Sitharaman.

According to Sekhri, the budget reflects the government’s progressive vision for holistic growth and emphasizes steps toward “Vikshit Bharat” (developed India). The garment industry particularly appreciates the acceptance of AEPC’s demand to expand the list of trims and embellishments under the Interest Equalization Scheme (IGCR), which will boost exports in the ready-made garment (RMG) sector.

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Additionally, measures such as increasing the credit guarantee scheme limit for MSMEs, providing one month’s wage to new entrants, and supporting women’s hostels and industrial training institutes will enhance the industry’s readiness for the future. 

The budget is considered balanced, reform-oriented, and forward-looking, addressing both economic growth and geopolitical considerations.

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