Indian garment players have huge potential to export their products to Japan and the domestic industry should take greater advantage of the free trade agreement (FTA) between the two countries, AEPC said on Sunday. The Apparel Export Promotion Council (AEPC) said to tap the growing potential, they are leading a delegation to participate in the India Tex Trend Fair (ITTF) in Tokyo.
The three-day fair will begin from July 23 and over 200 exhibitors are participating.
Some of the renowned Japanese brands, including Sumitomo Corporation, MUJI, Toyoshima, Marubeni, Mitsubishi, Koyo trading, United Arrows, MYK Fashion will be there to source their requirements, it said.
“Indian exhibitors from across the country will be displaying a diverse range of Indian RMG across various categories, including summer and winter collection,” it said.
Chairman AEPC Sudhir Sekhri said Japan is the fourth largest garment importer in the world.
“With Indian apparel having duty-free access to Japan under Indo-Japan trade agreement as against 9 per cent duty for Turkey and 9.5 per cent for China, it makes business sense for Indian readymade garment manufacturers and exporters to participate in this fair and avail this unique opportunity,” he said.
Total garment imports of Japan is USD 23 billion and India’s share is just 1.37 per cent.
“A strong Indian garment industry with a complete value chain and unique offerings provides huge scope for Japanese trading companies to source from India. Further, stronger opportunities for trade diversion are emerging with continuous fall in Chinese share in this market. Indian suppliers have built-in flexibility and can cater to both small size customised orders as well as large orders,” he said.
