India's apparel exports to set new record at $20 billion in FY17-18

Shipment contributes around 30% of India's overall apparel exports

Apparel exports are set to reach $20 billion in 2017-18, 13 per cent higher than a year ago, on policy support from the government.

Apparel exports moved in a narrow range since 2013-14 when the government introduced a revised technology upgradation funds scheme that attracted fresh investment and reduced the cost of production. Apparel exports moved up to $17.5 billion in 2016-17 from $16.8 billion in 2014-15.

In the past six months, exporters have seen a sharp increase in orders from the US, the EU and the West Asia. “We expect the momentum to continue. Apparel exports could set a