Apparel exports to Japan is expected to grow 20-25% year-on-year, according to Chairman of Apparel Export Promotion Council Naren Goenka.
In a press release, Mr. Goenka said that Indian ready-made garments had duty-free access to Japan following the Indo-Japan CEPA, while garment exports from China and Turkey to Japan attracted about 9% duty. As many as 84 prominent Japanese buyers, including trading companies and retail chains/stores, are in India to source their requirements from the 112-odd Indian exhibitors who have displayed garments at ‘Upnext India 2023’, inaugurated in Gurugram on Friday.
Japan had imported readymade garments worth $23 billion in 2022 (till November), and India exported readymade garments worth $0.22 billion to Japan, having a share of 0.9%.
Mr. Goenka said the Union Government was coming up with a PLI scheme which would predominantly include ready-made garments and help the industry to diversify to different fabrics and increase capacity. “The government is also considering vessels directly to Japan so that logistics time and cost are reduced,” he added.
