look news india
Mumbai: The country's apparel exporters expect a 9-11 percent increase in revenue in the current financial year. According to an ICRA statement, apparel exports from the country are witnessing a rise due to phased reduction in retail inventory and global buyers turning their attention towards India in favor of Bangladesh.
Export incentives, including the Production Linked Incentive (PLI) scheme, have supported income growth.
In the last financial year, exports were affected due to sluggish demand and Rata Sagar crisis. Due to increase in demand for Indian apparel in the world market, apparel manufacturers are likely to see an increase in capital expenditure between five to eight per cent of their turnover in the current financial year 2025 and the next financial year. Year.
America and Europe are the major export centers of India's apparel. However, there is still uncertainty in terms of demand in some markets due to geopolitical tensions.
The recent crisis in Bangladesh is sure to benefit the apparel industry of other countries including India. In view of the crisis in Bangladesh, the US International Trade Commission said that India is a reliable center for apparel supply.
US buyers are finding political stability in India to be an important asset for doing business here.
