Apparel Export Promotion Council

In the decade spanning from 2010 to 2021, global road traffic fatalities witnessed a notable 5% reduction, as reported by the World Health Organisation across 108 countries. However, India experienced a concerning 15% increase in fatalities during this period. This alarming data emphasises the urgent need to prioritise a safety-centric culture in the ever-evolving landscape of transportation, a central theme of the second invite-only roundtable discussion under the auspices of the ET Road Safety & Safer Mobility Forum, powered by Netradyne.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

In the decade spanning from 2010 to 2021, global road traffic fatalities witnessed a notable 5% reduction, as reported by the World Health Organisation across 108 countries. However, India experienced a concerning 15% increase in fatalities during this period. This alarming data emphasises the urgent need to prioritise a safety-centric culture in the ever-evolving landscape of transportation, a central theme of the second invite-only roundtable discussion under the auspices of the ET Road Safety & Safer Mobility Forum, powered by Netradyne.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

India has increased rates of duty drawback for bed linen, table linen and toilet linen made from cotton and blended fibres. The Department of Revenue under the Ministry of Finance has issued a notification for the same on April 30, 2024. It has also amended few provisions related to upstream products of textile sector.
The department has amended Customs and Central Excise Duties Drawback Rules, 2017 to make provisions more reasonable. Under HSN code 630201, the duty drawback rate has been increased from 2.6 per cent to 3 per cent. The upper cap of duty drawback is also increased from ₹40.5 per kg to ₹68.9 per kg for bed linen, table linen, toilet linen and kitchen linen made of cotton fibre.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Japan’s manufacturing economy moved closer to stabilisation in April, with output and new orders both falling, albeit at slower rates, and purchasing activity reducing further, according to manufacturing purchasing managers’ index (PMI) data compiled by S&P Global.
Employment growth picked up, whilst destocking continued to slow. Confidence in the future remained positive.

On the price front, output price inflation accelerated to an 11-month high as firms sought to pass on higher input costs to clients.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

According to the Asian Development Bank (ADB), Bangladesh’s exports might face a decline ranging from 5.5 per cent to 14 per cent post its graduation from a Least Developed Country (LDC) status in 2026.
This projection, especially concerning reduced earnings from the European Union (EU), highlights the potential impact of losing preferential trade benefits.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

A global leader in the 1990s, India's textile sector, which employs nearly 50 million, has been struggling for a while now. It grapples with limited capabilities for synthetic yarns, a market currently dominated by China, and for which global demand has been steadily rising.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Developing e-commerce hubs in the country to further promote India's exports through online medium are expected to figure in the commerce ministry's 100-day agenda roadmap for the new government, an official said. The commerce ministry's arm DGFT is already working with the RBI and concerned ministries, including the finance ministry, on several steps to promote exports through e-commerce medium as huge export opportunities are there in the sector.

The exercise assumes significance as ministries have been asked to prepare a 100-day plan for the new government. The seven-phase Lok Sabha polls, the world's biggest election exercise, kicked off on April 19 with the counting of votes set to take place on June 4. The official said that these hubs can help further promote exports through e-commerce mediums.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Garment exports from Tiruppur in February and March this year registered growth after facing a slump in demand for more than a year.

Data available with the Tiruppur Exporters’ Association (TEA) show knitwear exports from Tiruppur grew 6.4% in February and 5.6% in March this year in dollar terms compared with the year-earlier period.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

The International Monetary Fund (IMF) has projected that India's economy will grow by 6.8% in the current fiscal year, driven primarily by public investment. Krishna Srinivasan, Director of the Asia and Pacific Department at the IMF, stated, "In China and India, we expect investment to contribute disproportionately to growth—much of it public, especially in India."
The IMF has revised its growth forecast for India upward from its January projection of 6.5% to 6.8%.
Additionally, the IMF has raised its outlook for India's FY24 growth to 7.8%, surpassing the government's estimate of 7.6%. The IMF report highlighted that "India and the Philippines have been the source of repeated positive growth surprises, supported by resilient domestic demand."

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

If Prime Minister Narendra Modi wins a third term in office, investors will be looking at better ex*****on of production-linked incentive (PLI) schemes to make India an exports hub, growth in public capital expenditure (capex), and privatisation of state-owned enterprises (SOEs), the Paris-based bank Societe Generale said in a research report on Tuesday.

The seven-phase general elections for Lok Sabha kicked off on April 19. "The consensus of the opinion polls is pointing to a return of the Bharatiya Janata Party (BJP)-led alliance, the National Democratic Alliance (NDA), with a full majority. The market started to price in policy continuity since the victory of the incumbent ruling alliance in state elections in December. A change of guard could lead to a correction in the short term, similar to what we saw in 2004. However, what would matter in the medium term is a stable government," it said.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Mark Your Calendars, Apparel Exporters! ️✈️

Exciting opportunities await! The AEPC Calendar of Events for 2024-25 is packed with domestic and international trade fairs and networking events designed to propel your apparel business forward.

Stay tuned for official announcements and registration details!

The government is racking its brains for options to relax the 45-day payment rule to MSMEs that has come into effect from April 1, 2023, as the rule may disrupt business practices due to its severity and lack of clarity. In order to provide relief to businesses the government is mulling diluting the rule in the Union Budget after the elections.

The options may include extending the 45-day period to 60 days and even revoking the Income Tax Act amendment introduced in the interim Budget earlier this year, which will lead to companies paying higher taxes if payments to MSME are made beyond 45 days, a senior government official said.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

In an exhaustive interview to Network 18, Prime Minister Narendra Modi iterated that the Indian economy has witnessed significant growth in incomes compared to their peers along with lowest inflation rates in the last 10 years.

Modi spoke with News 18 Group Editor-In-Chief Rahul Joshi, News 18 Kannada Editor, Hariprasad, and News 18 Lokmat Anchor, Vilas Bade

India’s per capita income is currently at around 42 percent (in 2024), a significant increase from 30 percent seen two decades ago under the Congress-led regime, PM Modi said.

The PM was referring to India's per capita income in in comparison to other emerging market economies.

PM Modi termed the coalition government led by Congress “khichdi company” and said that the country’s per capita GDP fell to 30 percent in 2004 from 35 percent in 1998-2004.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

China's share in India's industrial product imports has significantly increased from 21 per cent to 30 per cent over the last 15 years, according to a recent report by Indian think tank Global Trade Research Initiative (GTRI).
This growth in imports from China, has been much faster than India’s overall import growth, with China’s exports to India growing 2.3 times faster than India's total imports from all other countries, the report, titled ‘An Examination of India’s Growing Industrial Sector Imports from China’, said.

India's import of industrial goods from China soared by 215.3 per cent, rising from $25.3 billion during 2007-10 to $79.7 billion in 2020-22. In contrast, India's imports from the rest of the world grew by only 94.5 per cent.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Globe Textiles India Limited (GTIL) (NSE: GLOBE), a Gujarat based textile firm that caters to global and domestic markets, has announced plans to explore direct listing of its equity shares on BSE Limited.

According to the recent submissions, GTIL expects a 30% uptick in revenue and a top-line of Rs 520 crores by 2027 on consolidated basis as the company has recently acquired Globe Denwash Private Limited which has an environmentally friendly facility with a Zero Liquid Discharge system and partly solar generation which minimizes energy costs while using green energy.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Confederation of Indian Textile Industry Piyush Goyal Department of Commerce, GoI FIEO

“The Asian market represents more than 50% of global emissions, and as one of the fastest growing hotbeds of innovation and economic activity in the region, India is in a unique position to lead against climate change,” he said speaking at the company’s annual tech exposition, SAP NOW India 2024.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Cotton exports surge: India's cotton exports have experienced a significant increase of 137% in the October-March period of the 2023-24 season, totalling 18 lakh bales compared to 7.59 lakh bales in the same period last year.

Competitive pricing: Competitive pricing in the international market has contributed to India's higher cotton exports, with Indian prices being lower by ₹3,000-4,000 per candy compared to international prices for a certain period.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

In this period, most of the country’s textile products were exported to Iraq, Afghanistan and Russia. The three countries accounted for 26, 18 and 6.0 percent share of Iran’s total textile exports, respectively. The majority of the textile products were exported from the country through the Kashan Customs Office, followed by Mashhad and West Tehran customs. Also $2.2 billion of textile products were imported into the country from March 21, 2023, to March 19, 2024, showing a 12 percent growth compared to a year earlier.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

At the outset, both sides expressed satisfaction with their current relations and voiced optimism for future collaboration. Among the topics discussed was Bhutan’s potential rejoining of the BBIN MVA framework to enhance regional connectivity, a suggestion positively received by Bhutan.

The meeting also addressed strengthening trade ties, particularly lauding the increased trade volume resulting from the Preferential Trade Agreement (PTA) and agreeing to expand the range of products covered by the PTA.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

India and Oman will sign a trade deal in the coming months, two Indian government officials said, as New Delhi seeks to expand its ties in the Middle East, where rising tensions are putting major shipping routes at risk.

"It will help India with a strategic partner and access to key trade routes in a volatile region," one official told Reuters.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

“The DGFT office is holding consultations with various export bodies and banks to have more clarity on those benefitting from the scheme and find out if it actually played a role in promoting exports,” an official told businessline.

The interest equalisation scheme, first implemented in April 2015 for five years, allows exporters of 410 identified products and all exporters from the MSME sector, to get bank credit at a subsidised interest rate determined by the government. The banks are later reimbursed by the government for their lower interest earnings. The scheme has since got a number of extensions and the last one is set to lapse on June 30, 2024.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

With increasing India's dependence on Chinese industrial goods like telecom, machinery and electronics, Beijing's share in New Delhi's imports of such goods rose to 30% from 21% in the last 15 years, a report said.

According to the report by the economic think tank Global Trade Research Initiative (GTRI), the growing trade deficit with China is a cause of concern, and the strategic implications of this dependency are profound, affecting not only economic but also national security dimensions.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Imran, who is in charge of logistics at a leading leather goods manufacturing company in Ambur, a town in western Tamil Nadu, is struggling to send shipments to Europe and the US for several days now. He never imagined that the garment industry in distant Bangladesh could be a source of worry for him.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Piyush Goyal FIEO

🇸🇦🇮🇳 Unleash Your Brand Potential in the Saudi Fashion Market!

Discover the booming fashion industry of Saudi Arabia and unlock your future market growth at the Saudi Fashion & Tex Expo in Riyadh!

🗓️ Dates: August 27-29, 2024

📍Location: Riyadh, Saudi Arabia

Connect with leading buyers, showcase your products, and tap into this exciting market. Don't miss out!

Here's what you can expect:

✅ Network: Meet face-to-face with potential partners and distributors.
✅ Showcase: Present your latest collections to a targeted audience.
✅ Grow: Explore new business opportunities and expand your reach in the Middle East.
✅ Discover: Gain valuable insights into the evolving Saudi fashion market.

Don't miss this opportunity! Book your space at the Saudi Fashion & Tex Expo today!

For seeking more details, please contact:-

1️⃣ Mr. S. Hari Krishnan, Director
📞 +919560472244
📩 [email protected]

2️⃣ Ms. Neelam Seth, Joint Director
📞 +919810505165
📩 [email protected]

3️⃣ Ms. Savita Taneja, AD
📞 +919654751745
📩 [email protected]

CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Dream BIG, Export Further! ✈️ Join the AEPC and take your fashion global!

Ready to take your fashion brand global? The Apparel Export Promotion Council (AEPC) is your one-stop shop for success!

With AEPC membership, you'll unlock a treasure trove of benefits.
Don't wait! Take AEPC membership and take your apparel business to the world!

"This is undoubtedly a significant accomplishment as we are passing through a turbulent time when global trade is shrinking," said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association.

In fiscal 2022-23, apparel exports grew 10.27 percent year-on-year. In contrast, overall exports had gone up by 6.67 percent at the same time.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

The United States slapped on Thursday sanctions on over a dozen companies, individuals and vessels, including three from India, for facilitating illicit trade and UAV transfers on behalf of the Iranian military.
The US Department of Treasury said these companies, individuals and vessels have played a central role in facilitating and financing the clandestine sale of Iranian unmanned aerial vehicles (UAVs) to Russia's war in Ukraine.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Office Department of Commerce, GoI FIEO

The world's services exports, exceeding $7.9 trillion in 2023 with an 8.9% annual increase in current dollar value terms, were led by developing economies like India, China, Singapore, Turkiye, Thailand, Mexico, and Saudi Arabia. However, India's services imports dipped marginally by 0.4% to $248 billion last year.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO

Foreign direct investment (FDI) is flowing back into Vietnam’s garment and textile sector, driven by the nation’s favourable investment climate, ample workforce, and open economy.

Media reports maintained this citing industry insiders.

Vu Duc Giang, Chairman of the Vietnam Textile & Apparel Association (VITAS), highlighted the expansion of foreign garment and textile producers within Vietnam to capitalise on its market even as he emphasised the pivotal role of free trade agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), EU-Vietnam FTA (EVFTA), and Regional Comprehensive Economic Partnership (RCEP), in attracting both domestic and foreign investors.

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CMAI EPCH India Trade Promotion Council of India Confederation of Indian Textile Industry Ministry of Textiles, Government of India Piyush Goyal Department of Commerce, GoI FIEO