Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, inaugurated the 67th India International Garment Fair (IIGF) at at IEML, Greater Noida. In his address Goyal named apparel fashion, jewelry and MICE as industries that need to grow. He set the apparel exports target at 15 per cent. Goyal informed, India is moving ahead on FTAs with Canada, EU, UK and Australia. It also plans to forge new FTAs with the GCC, Israel, Eurasia and Brazil, he added.
Narendra Goenka, Chairman AEPC said, the global apparel market which was just under $1.5 trillion in 2013 is expected to generate revenues to the tune of $1.8 trillion in 2022 and $1.9trillion in 2025 before it closes to $2 trillion in 2026. India offers complete value chain solution from farm to fashion giving it a competitive edge by shortened lead times to reach buyers.