Latest news with #SudhirSekhri
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Business Standard
18-05-2025
- Business
- Business Standard
AEPC inks pact with GBIC for climate-friendly garment manufacturing
The MoU aims to increase the number of Indian garment factories with LEED certification, reflecting a push towards climate-friendly and energy-efficient manufacturing Himanshu Thakur New Delhi Sudhir Sekhri, Chairman of AEPC, reaffirmed the Indian garment sector's dedication to sustainability, stating, 'The LEED certification indicates reduced resource consumption, lower carbon footprint and improved air quality within the factory. Additionally, it lowers the operating cost, increases the property value and improves investors' confidence. I am sure more and more factories will go for this certification in times to come.' Thakur pointed out that while India currently has only 13 LEED-certified garment factories, Bangladesh has around 250. 'There is a greater emphasis from the reputed brands globally on sustainability and we need to quickly catch the boat for staying competitive in the international market,' he said.
The Hindu
11-05-2025
- Business
- The Hindu
India-United Kingdom FTA to benefit textile clusters in T.N.
The recently concluded Free Trade Agreement between India and the United Kingdom is expected to boost export of garments and home textiles and benefit clusters such as Tiruppur and Karur. Shaleen Toshniwal, chairman of the Manmade and Technical Textiles Export Promotion Council said, the agreement provides duty free access to Indian garment and textile and India will have a level-playing field in the UK market with competitors such as Bangladesh and Vietnam. 'To capture a larger share of the U.K. market, we must use our inherent advantage of a vertically integrated domestic supply chain, leveraging it to offer speed and flexibility,' he said. According to Sudhir Sekhri, chairman AEPC, Indian textile and garment exports will not attract the 9.6% duty that was collected so far. 'India is the fourth largest supplier of garment with 6.1% share of the total readymade garment import of the U.K. The RMG exports to the U.K. from India grew 7.8% between April – March 2024-2025 compared with the previous fiscal. The top products imported by U.K. from India include T-shirts, singlets and other vests of cotton, knitted or crocheted, women's or girls' dresses of cotton; babies' garments and clothing accessories of cotton, knitted or crocheted. Cotton Textiles Export Promotion Council chairman Vijay Agarwal said there is a huge potential to grow the market share of Indian exporters to approximately 10% to 12% in the U.K. over the next three years. S.K. Sundararaman, chairman of the Southern India Mills' Association (SIMA), said that in the total U.K. exports of textiles, ready-made garments of all textiles account around 70% and cotton yarn/fabrics/made-ups, handloom products, etc., account around 15%. Exports of home textiles, especially the kitchen linen from clusters like Karur, had been struggling with the tariff disadvantage when compared with countries like Pakistan and the sector would now soon be able to double its exports to U.K. The Indian Chamber of Commerce and Industry, Coimbatore, said the FTA will enhance competitiveness, spur innovation, and create new opportunities for businesses in Coimbatore to thrive on the global stage.
Fashion Value Chain
09-05-2025
- Business
- Fashion Value Chain
India-UK FTA to Double RMG Exports in 3 Years: AEPC
Amid global economic turbulence, the newly signed India-UK Free Trade Agreement (FTA) is being hailed as a breakthrough for India's ready-made garments (RMG) sector. Chairman of the Apparel Export Promotion Council (AEPC), Shri Sudhir Sekhri, emphasized that this strategic deal eliminates a 9.6% tariff disadvantage, immediately making Indian apparel more competitive in the UK market. Calling it a turning point, Shri Sekhri stated that the agreement will not only uplift exports but also generate substantial employment, offering relief amidst challenges like the Russia-Ukraine war, trade barriers from the US, and volatile global conditions. He extended gratitude to Prime Minister Narendra Modi and Commerce Minister Shri Piyush Goyal for their leadership in bringing this deal to fruition. India currently ranks as the 4th largest apparel supplier to the UK with a 6.1% market share. RMG exports reached $1.4 billion in FY 2024–25, marking a 7.8% YoY growth. With the FTA in place, AEPC projects this figure to double within the next three years. The UK's top imports from India include cotton t-shirts, women's dresses, and baby garments. Meanwhile, China (25.4%), Bangladesh (19.9%), and Turkey (7.9%) continue to lead the RMG supply to the UK. However, this agreement now puts 'Made in India' apparel on equal footing, enhancing its visibility and market share. With deep sectoral synergies and complementary trade opportunities, the India-UK FTA is set to unlock rapid expansion for Indian apparel exporters — aligning with the national vision for global leadership in textiles.
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Business Standard
07-05-2025
- Business
- Business Standard
FTA with UK to help double garment exports to Britain in 3 years: AEPC
The free trade agreement (FTA) with the UK will help double India's ready-made garment exports to Britain in the next three years, AEPC said on Wednesday. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that against the backdrop of demand contraction in major economies, Russia-Ukraine conflict, Israel-Hamas war, American reciprocal tariff and Chinese belligerence, there was uncertainty and disruption impacting the global trade adversely. "This deal has come as a boon, removing immediately tariff disadvantage of 9.6 per cent and making us competitive in the UK market. Now the Made in India ready-made garment will be cheaper on UK shelves and we will be at par with some of our major competitors who enjoyed duty-free access in the UK market," he said. India is the fourth largest supplier of garments with a 6.1 per cent share of the total RMG import of the UK. The exports to the UK from India grew 7.8 per cent to USD 1.4 billion in 2024-25. "With this deal in place, India is all poised to double the RMG exports to the UK in the next three years," he said. China is the top supplier of RMG to the UK. It is followed by Bangladesh and Turkey. The top products imported by the UK from India includes t-shirts, singlets and other vests of cotton, knitted or crocheted; women's or girls' dresses of cotton; babies' garments and clothing accessories of cotton, knitted or crocheted. "Huge opportunities offered by this deal, coupled with the complementary nature of the two economies and synergy across sectors, will help in rapid growth and expansion of apparel business by providing a competitive edge over our competing countries," Sekhri said. AEPC Vice Chairman A Sakthivel said that the FTA is expected to pave the way for long-term growth, attract investment, and create a more favourable business environment for textile stakeholders in both countries. "By unlocking new export opportunities, reducing trade barriers, and enabling greater access to the premium UK market, this agreement promises to empower Indian weavers, manufacturers, and exporters across the value chain," he said.
Time of India
07-05-2025
- Business
- Time of India
FTA with UK to help double garment exports to Britain in next 3 years: AEPC
5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by Live Events The free trade agreement (FTA) with the UK will help double India's ready-made garment exports to Britain in the next three years, AEPC said on Wednesday. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that against the backdrop of demand contraction in major economies, Russia-Ukraine conflict, Israel-Hamas war, American reciprocal tariff and Chinese belligerence, there was uncertainty and disruption impacting the global trade adversely."This deal has come as a boon, removing immediately tariff disadvantage of 9.6 per cent and making us competitive in the UK market. Now the Made in India ready-made garment will be cheaper on UK shelves and we will be at par with some of our major competitors who enjoyed duty-free access in the UK market," he is the fourth largest supplier of garments with a 6.1 per cent share of the total RMG import of the exports to the UK from India grew 7.8 per cent to USD 1.4 billion in 2024-25."With this deal in place, India is all poised to double the RMG exports to the UK in the next three years," he is the top supplier of RMG to the UK. It is followed by Bangladesh and top products imported by the UK from India includes t-shirts, singlets and other vests of cotton, knitted or crocheted; women's or girls' dresses of cotton; babies' garments and clothing accessories of cotton, knitted or crocheted."Huge opportunities offered by this deal, coupled with the complementary nature of the two economies and synergy across sectors, will help in rapid growth and expansion of apparel business by providing a competitive edge over our competing countries," Sekhri Vice Chairman A Sakthivel said that the FTA is expected to pave the way for long-term growth, attract investment, and create a more favourable business environment for textile stakeholders in both countries."By unlocking new export opportunities, reducing trade barriers, and enabling greater access to the premium UK market, this agreement promises to empower Indian weavers, manufacturers, and exporters across the value chain," he said.
