The Apparel Export Promotion Council (AEPC), the 6,600 members strong, apparel exporter's trade body intends to explore and venture in to newer markets like Brazil and Japan.
At the same time, it is also advocating the government to ink bilateral trade agreements with the member countries of the European Union. This is being done to counter the impact of the recessionary trends and subsequent slowdown.
The markets of the US and EU are the biggest markets, with US accounting for 30 percent and the EU for 45 percent of all apparel exports from the country. Japan, South America and South Africa, together account for just 4 percent of shipments.
AEPC intends to grow exports to these three countries from the current levels as US and the EU are the highest affected markets due to the slowdown and highly competitive too, since China, Bangladesh, Vietnam and India vie for the same pie.
Fibre2fashion News Desk - India
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