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AEPC eyes ambitious US$ 6 bn export target for 2003-03
PTI - New Delhi

The Apparel Export Promotion Council (AEPC) said it had set an export target of US$ 6 billion for the current fiscal and would strive to attain exports of upto US$ 25 billion by 2010.

“We have set a target of US$ 6 billion of exports during 2002-03 as against around US$ 4.7 billion mopped up via exports until March 31, 2002,” the chairman AEPC Mr Virender Uppal told reporters.

Mr Uppal said more than 70 per cent of India’s exports come from quota countries like the US and European Union and added that efforts to step up exports to these regions were being planned. To further increase volumes, AEPC would also tap new markets in Latin America and North Africa, he said.

Asked about the present trend of exports, he said despite talks of a recovery in the US markets, India’s performance was dismal in the global garment export market with China being way ahead in terms of market share. “China has a 28 per cent global garment market share as compared to India’s two per cent. By 2005 China is likely to occupy 50 per cent of the global market,” he said.

AEPC had recently sent a high level buying delegation to China with a view to augment the supplies of various kinds of fabrics to its members at certain locations like Mumbai, Tripur, Chennai, Surat, Bangalore, Kolkata and Delhi.

Mr Uppal said despite great potential, the Indian garment exports were lagging behind.