Indian Apparel Exporters Shine at AEPC Excellence Honours

A Quest for $40 Billion Exports

Union Minister Goyal Presents Awards, Calls for Expansion of Textile Exports

On December 8, 2023, the Indian apparel industry witnessed a momentous occasion as Union Minister Piyush Goyal presented the prestigious ‘AEPC Excellence Honours’.

Recognizing the exceptional contributions of RMG exporters over the past two years, the ceremony served as a powerful platform to celebrate achievements and chart a future roadmap for the industry.

Aiming for $40 Billion: The ‘40 by 30’ Initiative

Minister Goyal underscored the government's ambitious ‘40 by 30’ initiative, aiming to propel RMG exports from the current $16 billion to a staggering $40 billion by 2030. This ambitious goal, aligned with Prime Minister Modi's vision for India, has the potential to revolutionize the textile industry's future.

Focus on Domestic Raw Materials and Brand India

Urging RMG exporters to prioritize domestic raw material sourcing, Minister Goyal emphasized the need to strengthen the domestic supply chain and reduce dependence on foreign suppliers. He also highlighted the importance of promoting Brand India and leveraging free trade agreements to enhance exports.

Industry Leaders Share Optimism and Concerns

The event saw insightful discussions on topics such as enhancing competitiveness, MMF exploration, and ensuring compliance and sustainability. AEPC Chairman Naren Goenka expressed confidence in India's potential to become a global leader in textile exports, citing increased international interest and strategic advantages like abundant raw materials and shorter lead times. However, concerns regarding economies of scale and infrastructure were also acknowledged, emphasizing the need for initiatives like PM MITRA.

Award Winners and Special Recognition

Shahi Exports Pvt. Ltd. emerged as the top exporter, receiving gold trophies for the highest global exports in both 2021-22 and 2022-23.

Dr. A Sakthivel and Shri Deepak Seth were honored with prestigious awards recognizing their contributions to the industry.

Achieving the $40 Billion Dream: A Collective Endeavor

The AEPC Excellence Honours emphasized the key drivers for achieving the $40 billion target: innovation, market expansion, sustainability, strategic partnerships, and workforce empowerment.

With a collective effort from the government, industry leaders, and all stakeholders, India's textile industry is poised for an exciting and transformative journey towards becoming a global powerhouse.