India's apparel exports set to cross USD 17-bn mark in FY15

Notwithstanding the stronger rupee and slower growth in Western markets, India's apparel exports are set to cross USD 17 billion mark in FY'15 from USD 15 billion in FY'14, a senior industry official said here today.
"India's total textile exports stood at USD 32 billion of which apparel exports were USD 15 billion in FY 14. The industry is doing well and we expect apparel exports to touch USD 17 billion this year, a growth of 15 per cent," Clothing Manufacturers' Association of India (CMAI) Chairman, Board of Trustees Premal Udani told reporters here.
The industry is concerned over the stronger rupee value. However, it hopes that value will be maintained at around 60, Udani said.

In the year to date period, the rupee has appreciated by over 4 per cent to end at 59.27 versus the US dollar.
India exports nearly 80 per cent of apparels to the US and European markets. The industry now focusing on new markets like Japan and Latin America, due to slower growth in traditional strongholds in the West, he said.
The domestic apparel market is also expected to grow by 12-15 per cent in the current fiscal after logging a slower growth rate in the first few months, CMAI President Rahul Mehta said.

The CMAI is organising the 59th National Garment Fair from June 23-25 at Mumbai.

The fair will have 697 stalls displaying over 737 brands. The organisers claim this will be the India's largest ever garment fair. Nearly 40,000 retailers from all over India are expected to visit this B2B fair, Mehta said.
Mehta said that CMAI has been appointed as one of the lead implementing agencies under component II of the Integrated Skill Development Scheme (ISDS) of the Ministry of Textiles to Impart training to 35,000 trainees in the 12th Five Year Plan.
CMAI plans to set up 50 apparel training centres across India. The first centre will be set up at Baramati Hi-Tech Textile Park in Maharashtra.