The apparel sector will help India achieve its target of $400 billion exports in the current fiscal year, said A Sakthivel, Chairman, APEC. Addressing the council members at the 42nd Annual General Meeting he said, India’s apparel exports to major markets such as the US, Europe, UK, Saudi Arabia, Canada, Japan and Australia are growing at a healthy rate. From January-May 2021, India’s exports to the US increased 22 per cent compared to the same period of previous year.

The government has fast-tracked free trade pacts with the European Union, UK, US, Australia and Canada to exports. Indian exports face a duty disadvantage of 9.6 per cent for exports to EU vis-a-vis exports from other countries like Bangladesh, Cambodia, Turkey, Pakistan and Sri Lanka. In the UK, Bangladesh continues to enjoy preferential trade benefits after the UK's departure from the EU, Sakthivel added.