Increase in biz by global buyers may fetch $3bn in FY14: AEPC

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Apex apparel body AEPC today said increase in business by global buyers such as Walmart and Zara from India may help in fetching business worth $3 billion during the fiscal.

Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said there is a surge in factory compliance, under DISHA programme, by garment manufacturing units in India.

The DISHA programme is aimed at encouraging better social practices to meet global standards on issues like child labour.

"Global buyers such as Walmart and Zara have preferred to expand their merchandise sourcing from Coimbatore and other parts of India which may fetch business of $3 billion in 2013 -14, as factory compliant manufacturing in India has surged," Sakthivel said in a statement.

Walmart and Zara source several products, including garments from India.

"The Indian apparel industry aims to chart for itself a course to make India a preferred and chosen destination for the global textile and apparel trade and DISHA is providing that platform to achieve sustainable competitiveness," he said.

Further, the statement said that the AEPC is holding a workshop of expert working group on training strategy for effective implementation of DISHA.

The objective of this workshop is to see that DISHA is aligned to global requirements for compliance management and has good acceptability, it said.

 "DISHA would be covering 800 garment factories under the 12th plan.  Global brands are eyeing for India. We have the raw material strengths and compliant factories," Sakthivel said.

He said that due to surge in compliance norms, during the last six months apparel exports are recording positive growth of almost 13%.

"India is definitely going to be the most preferred sourcing destination because of the changing global sourcing dynamics," he added.