New Delhi: Apparel Export Promotion Council of India (AEPC) on Wednesday said its members are participating in Australia’s International Sourcing Expo to showcase their products and further push shipments. AEPC Chairman Naren Goenka said that the expo is a huge platform for the Indian garment exporters to showcase best apparel designs and styles in line with the latest fashion trends in a wide range of traditional cotton and MMF (man-made fibre) garments.
He said the council is focusing on pushing exports to Australia, New Zealand and other island countries in the Oceanic region.
“Australia has traditionally been the topmost trading partner for Indian garment with our exports occupying a share of about 4 per cent of total Australian garment imports. We foresee a stronger presence in the Australian market appreciating the recently concluded Indo-Australia trade agreement,” he said.
The free trade agreement would open huge business opportunities for Australian clothing brands to source from India considering the strengths of the domestic garment industry in terms of variety of raw material availability, Goenka said.
With total garment imports of USD 7.39 billion against India’s exports of USD 0.29 billion, Indian garment industry has a huge scope for Australian companies to source from India.
“We are supported by the world’s second largest spinning and weaving capacity, giving the industry an opportunity for a 95 per cent domestic value addition, India offers to the world a complete value chain solution from farm to fashion, giving us a competitive edge by shortened lead times to reach our buyers,” he said.
India is one of the largest producers of cotton, silk and jute, technical textiles and viscose. It also produces all types of synthetic fibres, polyester, nylon and acrylic.