New Delhi: Japan offers huge business opportunities for Indian apparel exporters and the industry should explore that market, AEPC said on Saturday. Apparel Export Promotion Council (AEPC) said it is organising the first edition of Upnext India 2023, starting with a Reverse Buyer Seller Meet with Japan.
The fair will be held in Gurugram during February 10-11.
Over 50 Japanese buyers and traders have confirmed their participation, it added.
Naren Goenka, Chairman, AEPC, said in light of the fact that Japan is the fourth largest garment importer in the world, with its apparel imports being stable even during pandemic times and Indian apparel having duty-free access under the Indo-Japan trade agreement as against 9 per cent for Turkey and 9.5 per cent for China, it makes business sense for Indian readymade garment manufacturers and exporters to participate in this opportunity.
With total garment imports of Japan of USD 23 billion, against India’s exports of USD 0.22 billion, a strong Indian garment industry with its unique offerings has a huge scope for Japanese trading companies to source from India, it added.
Goenka further said Japanese companies have two competitive advantages as apparel sourcing base — sourcing cost and flexibility and agility.
Indian suppliers can cater to both small size customised orders of 300 pieces to large orders as huge as 3 lakh pieces of one style, it added.