The Apparel Export Promotion Council (AEPC) says that it has achieved $12.42 billion till the end of third quarter which accounts for 82.8 per cent of the exports target. It may be recalled that the Ministry of Textiles had set a target of $20 billion for RMG exports for the financial year 2016-17 out of which $15 billion was for April-December period.
According to AEPC, RMG exports got impacted due to several pervasive geopolitical and economic uncertainties. As the US has shown negative growth in global exports, India’s exports to the country have also seen a decrease. Out of India’s top 10 products, seven have shown a decline during the review period. Changing economic conditions in the EU market have also affected India’s exports to the world’s largest economy. RMG exports by India decreased by 0.2 per cent compared to the same period of previous financial year. During April-December 2015-16, India’s apparel exports were to the tune of US $12.437 billion.