Apparel sector to contribute significantly in taking exports to $1 trillion by 2030: AEPC

The labour intensive apparel sector will contribute significantly in taking the country's merchandise exports to USD one trillion by 2030, AEPC said on Thursday.

The Apparel Export Promotion Council (AEPC) said that the incentives in the Budget will help the apparel industry focus on market and product diversification.

The council chairman Naren Goenka said that providing an ease-of-doing-export environment would enhance the sector's competitiveness.

"The government's key initiatives such as trade agreement with Australia and the UAE and increase in funds will help us to focus on market diversification and product diversification," he said.

AEPC promoted global reach of Indian apparel exports to more than 25 export destinations through its export promotion activities in 2022-23.

"As we look forward to the 46th year of this council, I can say with confidence that, in the coming years, we will be able to support the government's efforts to make India a USD 2 trillion (USD 1 trillion goods and USD 1 trillion services) export target by 2030," the AEPC Chairman said.