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Apparel exporters body AEPC on Friday said it is planning to expand the global reach of Indian apparel in 2025-26 by diversifying into newer and non-traditional markets to boot shipments. The sector's exports rose by 11.6 per cent to about USD 13 billion during April-January 2024-25 despite global headwinds, geopolitical challenges and supply chain disruptions, Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said. "The council has planned to promote the global reach of Indian apparel exports by diversification of markets to newer and non-traditional markets through its export promotion activities in 2025-26," he said. He added that the government's key initiatives such as production linked incentive scheme, extension of RoSCTL (Rebate of State and Central Taxes and Levies ), free trade agreements with the UAE and Australia, will surely accelerate growth of the sector. AEPC Secretary General Mithileshwar Thakur said the exports in traditional big markets like the US a
After two days of meetings in Lima that rarely ventured beyond platitudes in discussing the strategies of the region's major economies, the Asia-Pacific Economic Cooperation forum wrapped up Saturday with a spirit of detente that many fear the annual summit may not see again for four years. The 21 leaders from economies bordering the Pacific, including US President Joe Biden and Chinese President Xi Jinping, descended on Peru this week at a time when America's incoming president, Donald Trump, has vowed to withdraw the US from its leadership of a global free trade agenda. Few could help noting that Biden's late entrance to the traditional APEC family photo on Saturday lent itself to political metaphor, as the rest of the leaders prepared to pose onstage before looking around to find Biden missing. They tittered for five awkward minutes before a seemingly dazed Biden emerged and took his place in the far back corner, standing between Thailand's 38-year-old Prime Minister Paetongtarn
The industry's focus on quality products and sustainable manufacturing practices is helping to increase India's ready-made garment exports, which rose by 35 per cent in October, AEPC said on Friday. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri also said that exports to countries with which India has a free trade agreement (FTA), such as Korea, Japan and Australia, are helping to increase its share of exports. Ready-made garment exports increased by 35 per cent year-on-year to USD 1.22 billion in the last month. During April-October this fiscal, the shipment grew by 11.6 per cent to USD 8.73 billion. Sekhri attributed this growth to the industry's emphasis on quality, sustainability and affordability, which has boosted demand from international buyers. "Our constant endeavour to be sustainable and affordable is a great attraction for international buyers which is reflected in recent months' exports growth," the Chairman said. Looking ahead, he said, India will hos
APEC leaders have worked together to find ways to build inclusive, resilient, and sustainable economies for the Asia Pacific, US President Joe Biden said on Friday at the conclusion of the annual leadership summit here. Attended by leaders from the Asia Pacific region, including those from China, Japan, South Korea, Chile, Peru, Indonesia, Malaysia, Vietnam, and Hongkong, the APEC Leadership Summit was hosted by the US president. The next summit will be held in Peru in 2024. Together we laid out the work we'll be undertaking to avert the worst impacts of the climate crisis, Biden said. The US companies have announced more than USD 500 billion in investments into APEC economies to build new subsea cables, decarbonise energy grids, and complete the largest US airline expansion into the South Pacific in history, Biden said. Alongside 13 of APEC partners, we've also made historic progress on the Indo-Pacific Economic Framework, with a first of its kind agreements to strengthen supply .