India’s Ready-Made Garment (RMG) sector is making significant strides in the global market, registering a 9.8% growth in November 2024 compared to the same period in 2023. This growth highlights the sector’s resilience and adaptability, particularly as overall exports face challenges due to fluctuating geopolitical and economic conditions. According to Shri Sudhir Sekhri, Chairman of the Apparel Export Promotion Council (AEPC), this upward momentum signals the increasing global demand for “Made in India” products, underscoring India’s growing presence as a trusted sourcing destination.
“While the overall exports declined, apparel exports withstood the headwinds, showing resilience to buck the adverse situation. With the changing geopolitical equations, a lot more business will shift to India in the near future,” said Shri Sekhri.
India’s Strengths and Policy Support Drive Growth
The growth in RMG exports is attributed to India’s robust policy framework, complemented by its inherent strengths, such as a comprehensive value chain, a strong raw material base, and sustainable production practices. These factors not only meet global compliance standards but also position India as a leader in responsible business practices.
For November 2024, RMG exports stood 9.8% higher than in November 2023, though slightly down by 6.6% compared to November 2022. Cumulatively, for April-November 2024-25, RMG exports reached USD 9,853.9 million, reflecting an 11.4% increase over the same period in 2023-24.
Chairman Sekhri emphasized, “India is well-poised to reap the benefits of its end-to-end capabilities and government support. Our factories are embracing sustainable practices, ensuring compliance and innovation in garment production.”
Bright Spots in Global Markets
India’s RMG exports are witnessing an uptick in key markets such as the USA and the UK, which remain the top importers of Indian apparel. Shri Sekhri noted, “The growth in the USA and UK is encouraging, and we are also seeing green shoots in markets linked through Free Trade Agreements (FTA), including Australia, Korea, Japan, Mauritius, the Netherlands, UAE, and others.”
This broad-based growth signals that Indian apparel is increasingly being trusted for its quality, sustainability, and adaptability to market demands, particularly during peak seasons such as global festivals.
The Role of Bharat Tex Expo 2025
To further promote India’s textiles value chain and attract international buyers, Chairman Sekhri extended an invitation to the Bharat Tex Expo 2025. Scheduled to be a landmark event, the expo will provide a unique platform for showcasing India’s capabilities across the textiles value chain.
“We have been to various countries during the Bharat Tex Roadshow and received phenomenal responses from international buyers and retail chains. Bharat Tex Expo 2025 will enable great collaborations, expand sourcing networks, and promote Foreign Direct Investment (FDI) in India,” remarked Shri Sekhri.
Paving the Way for Future Growth
The RMG industry has the potential to drive exponential growth, provided it receives continued support from the government. Shri Sekhri highlighted key requests to the Ministry of Textiles, including:
- Interest Equalization Scheme: Continuation and enhancement of the interest equalization rate to 5% to mitigate high capital costs.
- PLI 2.0 Scheme: Implementation of this scheme for all types of garments, ensuring capacity expansion and increased global competitiveness.
With these measures in place, India can solidify its position as a leading player in the global apparel market.
A Bright Future for India’s RMG Sector
India’s RMG sector is on a growth trajectory, powered by its inherent strengths, evolving policies, and growing global trust in its products. The November 2024 growth figures are a testament to this resilience and the sector’s ability to adapt and thrive. With continued support and innovative strategies, India’s RMG industry is set to achieve even greater milestones in the years to come.
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