Latest news with #SudhirSekhri
India Gazette
a day ago
- Business
- India Gazette
Union MoS Margherita inaugurates 73rd Edition of India International Garment Fair
New Delhi [India], July 1 (ANI): Union Minister of State for Textiles and External Affairs Pabitra Margherita inaugurated the 73rd edition of India International Garment Fair (IIGF) on Tuesday. The inauguration took place in the presence of Chairman AEPC Sudhir Sekhri, prominent industry leaders and a large number of international buyers and exhibitors. Delivering his inaugural address, Margherita said, '73rd edition of the India International Garment Fair (IIGF) is Asia's largest and most dynamic garment fair. This fair is not just a showcase of fabrics and fashion; it is a celebration of the creativity, craftsmanship, and confidence of Indians. This year, with an exhibition area of over 21,000 square metres and participation from buyers across 80 countries spanning North America, Latin America, Europe, Asia, Oceania, Africa, and Eurasia, this edition reaffirms the growing global trust in Indian textiles.' Minster further underlined, 'Under the visionary leadership of Prime Minister Narendra Modi ji, and the guidance of Minister of Textiles Giriraj Singh ji, the Ministry is focused on expanding India's global footprint in textiles and apparel. We are not just aiming for volumes, we are working towards value, versatility, and visibility.' The textile and apparel industry contributes 2.3 per cent to India's GDP, 13 per cent to industrial production, and 12 per cent to exports. In 2023-24 alone, we exported textile products worth $34.4 billion, with apparel accounting for 42 per cent of that. We now aim to cross $100 billion in textile exports by 2030, and every MSME, every entrepreneur, every exporter has a role in achieving this, Margherita highlighted. He also emphasised that with over 80 per cent of India's textile sector being MSME-driven, it is important to focus on boosting productivity, ensuring steady raw material supply, and reducing import dependence to stay competitive. Highlighting on the road ahead, the Minister underlined, 'On the trade front, the India-UK Free Trade Agreement, and our ongoing negotiations with the EU and US, will open new avenues for growth. These are high-value, quality-conscious markets, and we are committed to equipping Indian exporters with the right strategy, standards, and compliance to seize these opportunities.' Commenting on the 73rd Edition of IIGF, Sudhir Sekhri, Chairman, AEPC and IGFA, said, 'I am happy to share that IIGF will provide a strong platform for the Indian apparel exporters to capitalise on India's momentum for growth. India's textile sector is at a pivotal moment, where the acceptability of 'Made in India' brands is more than ever before in the global sourcing arena. With the right policy push, innovation, and global partnerships, this could be the decade where India emerges not just as a volume player, but a value-added global garment exports powerhouse.' The 73rd edition of IIGF focuses on showcasing the latest apparel trends tailored to meet the requirements of the European Union, the USA, and other Western markets. A large number of them are based on sustainable manufacturing practices. This year's event will highlight India's prowess in design, pattern and technological advancements, reflecting our unwavering commitment to innovation and responsible production. While highlighting the objective of the Fair, Chairman AEPC stated that IIGF will support MSMEs by helping them enter and grow in international markets while showcasing the latest fashion collections to a global audience. This will also facilitate buyer connections and drive industry growth through exposure and engagement. The India International Garment Fair features 361 exporters showcasing across 9,375 sq. mtrs. The fair features participation from 12 states across India. Key participating states include: Delhi, Uttar Pradesh, Rajasthan, Maharashtra, West Bengal and Haryana. The total number of countries represented at the 73rd IIGF is 79. (ANI)
Fashion Value Chain
2 days ago
- Business
- Fashion Value Chain
AEPC Flags US Tariff Concerns in Meeting with Piyush Goyal
Shri Sudhir Sekhri, Chairman of the Apparel Export Promotion Council (AEPC), and Shri Vijay Agarwal, Chairman of TEXPROCIL, met with the Hon'ble Minister of Commerce & Industry, Shri Piyush Goyal, in the capital to discuss growing concerns over the proposed India-US Bilateral Trade Agreement. The high-level meeting follows recent developments indicating that the US may impose reciprocal tariffs of up to 26% after the July 9 deadline—a move that could significantly impact India's textile and apparel exports, especially to its key market, the United States. During the meeting, the Chairmen raised red flags about the implications for labour-intensive sectors, particularly apparel and home textiles, which form a major chunk of India's export earnings and employment—especially in MSMEs and rural clusters. A hike in tariffs could lead to a sharp dip in exports and substantial job losses, they warned. Minister Piyush Goyal assured the delegation that the Government is fully committed to protecting the interests of vulnerable export sectors and that the ongoing negotiations will prioritize the sustainability and competitiveness of the Indian textile industry. The meeting reflects the Government's proactive engagement with stakeholders as it navigates evolving global trade dynamics to safeguard India's economic and employment interests.
&w=3840&q=100)
Business Standard
5 days ago
- Business
- Business Standard
Govt will protect textile sector in US trade deal: Goyal tells export body
Commerce and Industry Minister Piyush Goyal has assured industry bodies that the government will protect the interests of the textiles and apparel sector in the proposed trade agreement with the US, AEPC said on Friday. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said he, along with TEXPROCIL (Cotton Textiles Export Promotion Council) Chairman Vijay Agarwal, met the minister to apprise him of key concerns related to the proposed agreement. "The minister gave a patient hearing to the concerns raised and assured the delegation that the government is committed to protecting labour-intensive sectors during the ongoing negotiations under the India-US Bilateral Trade Agreement," the council said in a statement. The minister also reiterated that all necessary steps would be taken to ensure that India's interests, especially those of vulnerable sectors like textiles and apparel, are safeguarded. It further said that if the US will go ahead with the additional 26 per cent reciprocal tariffs on India then it would have serious implications for the sector's exports to America. Both the heads of the two councils expressed deep concern over the potential ramifications for the labour-intensive textile and clothing sector, which is a major contributor to India's export economy and employment, AEPC said. They highlighted that apparel and home textiles are among the leading export categories to the US, and would be disproportionately affected by any tariff hike. "They also drew attention to the likely consequences in terms of decline in exports and job losses, particularly in MSME segments and rural employment clusters," it added. The Trump administration has suspended the 26 per cent tariff on Indian goods till July 9. India's apparel exports to the US stood at USD 5 billion in 2024-25. Indian official team is in Washington for the next round of trade talks.
The Hindu
5 days ago
- Business
- The Hindu
Textile, apparel exporters concerned over U.S. reciprocal tariff
The Apparel Export Promotion Council (AEPC) and the Cotton Textiles Export Promotion Council ( Texprocil) have expressed concern over reports that the U.S. may levy up to 26% reciprocal tariff from July 9. AEPC chairman Sudhir Sekhri and Texprocil chairman Vijay Agarwal had met Union Minister of Commerce and Industry Piyush Goyal regarding the concerns related to the proposed India-U.S. Bilateral Trade Agreement. 'They expressed concern over the potential ramifications for the labour-intensive textile and clothing sector because of the potential reciprocal tariff,' according to a press release. Apparel and home textiles are among the leading export products to the U.S., and will be disproportionately affected by any tariff hike. The press release said the Minister assured the delegation that the government was committed to protecting labour-intensive sectors in the ongoing negotiations under the India-U.S. Bilateral Trade Agreement.
Time of India
5 days ago
- Business
- Time of India
Piyush Goyal assures to protect interest of textiles sector in trade pact with US: AEPC
New Delhi: Commerce and Industry Minister Piyush Goyal has assured industry bodies that the government will protect the interests of the textiles and apparel sector in the proposed trade agreement with the US, AEPC said on Friday. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said he, along with TEXPROCIL (Cotton Textiles Export Promotion Council) Chairman Vijay Agarwal, met the minister to apprise him of key concerns related to the proposed agreement. "The minister gave a patient hearing to the concerns raised and assured the delegation that the government is committed to protecting labour-intensive sectors during the ongoing negotiations under the India-US Bilateral Trade Agreement ," the council said in a statement. The minister also reiterated that all necessary steps would be taken to ensure that India's interests, especially those of vulnerable sectors like textiles and apparel, are safeguarded. It further said that if the US will go ahead with the additional 26 per cent reciprocal tariffs on India then it would have serious implications for the sector's exports to America. Live Events Both the heads of the two councils expressed deep concern over the potential ramifications for the labour-intensive textile and clothing sector, which is a major contributor to India's export economy and employment, AEPC said. They highlighted that apparel and home textiles are among the leading export categories to the US, and would be disproportionately affected by any tariff hike. "They also drew attention to the likely consequences in terms of decline in exports and job losses, particularly in MSME segments and rural employment clusters," it added. The Trump administration has suspended the 26 per cent tariff on Indian goods till July 9. India's apparel exports to the US stood at USD 5 billion in 2024-25. Indian official team is in Washington for the next round of trade talks. Economic Times WhatsApp channel )
