AEPC President Encourages Garment Exporters to Look to Colombian Market; says focus on high value products

AEPC President Encourages Garment Exporters to Look to Colombian Market; says focus on high value products

New Delhi, Jan 29 (KNN) Addressing a B2B meeting, the Chairman of the Apparel Export Promotion Council (AEPC), Narendra Goenka, urged Indian garment exporters to set their sights on increasing their share in the world’s garment imports from China. Colombia focusing on high value apparel products.

He was speaking at “India-Colombia Synergies in Apparel and Textiles”, a virtual B2B meeting between Colombian buyers and Indian garment exporters jointly organized by AEPC and the Indian Embassy in Colombia. , Thursday, according to the official press release.

Goenka highlighted India’s 3.2% share of Colombia’s global apparel imports and how the market is expected to grow by double digits.

“We focus on higher value and specialty products like man-made fiber (MMF) garments, medical and technical textiles,” he said.

Regardless of the fall in ready-to-wear (RMG) imports into Colombia, Indian RMG exports have maintained their stable position in the Colombian market.

Pointing out that India’s share in Colombia’s total apparel imports remains the same at 3.2% despite the market drop, Goenka said India’s apparel sector offers a great investment opportunity.

“Colombian investors can also set up manufacturing facilities in India directly or through joint ventures, and partner with us to build R&D, innovation and incubation centers in India,” he said. declared.

Expressing his appreciation to AEPC, India’s Ambassador to Colombia, Sanjiv Ranjan, said the majority of garments exported from India make up Colombia’s top 10 import items in this segment.

“Over time, the popularity of Indian clothing and textiles in Colombia has increased, especially among women, and that’s an added bonus,” he added.

He also noted that concerted efforts would be needed to reach the pre-pandemic export level of around $22 million.

PEAC’s Export Promotion Board will follow the Ambassador’s suggestion, said PEAC President (Export Promotion) Gautam Nair.

He described it as a sourcing strategy close to some type of warehouse that could be located in Colombia and serve Latin America and be a hub.