CMAI signs MOU with Chinese apparel manufacturers_intimohub

CMAI signs MOU with Chinese apparel manufacturers

To mark a new high on India's growth curve, on the occasion of the 32nd IAF World Fashion Convention India 2016,  India's Clothing Manufacturers' Association of India (CMAI) has signed a memorandum of understanding with China Chamber of Commerce for Import and Export of Textiles (CCCT) on September 27. This will surely open up areas for India to enable them to explore potential areas of mutual co-operation for increasing apparel exports from India.

India's apparel export stood at US$ 17 billion for the financial year 2015-16. With Rs 5,000 crore package approved to boost the entire apparel sector, the government has set a target for apparel exports at US$ 20 billion as against the industry's pre-package target of US$ 18.75 billion for the current financial year. The textile ministry has also asked the apex industry body the Apparel Exports Promotion Council (AEPC) to create 1 million jobs and achieve US$ 30 billion in three years.

"This MoU will benefit both countries when we explore opportunities. While organizing trade fairs, both of us would co-operate in associating new clients, visitors and associated supply chain participants to the forum for the benefit of the apparel trade which will ultimately benefit India's apparel industry," said Rahul Mehta, president, CMAI and International Apparel Federation (IAF), the global representative body of apparel manufacturers.

Speaking on the occasion, Ashok Rajani, chairman, AEPC, also mentioned that, India has huge targets of capacity expansion, predicting an investment of US$ 11 billion over the next three years he also mentioned that apparel machine supplies also have a big opportunity to reach out to Indian entrepreneurs and supply to them. Investment in plant and machinery in India has been incentivized too. With the schemes having been just rolled out, about two months back, this is right time to reap the benefits of collaborate with the opportunity called India, he further assured.

By 2021, the Indian textiles industry is forecast to double to US$220 billion.

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1 Comments

Very good , It's very good Deal, I want to act as kaise agent of Brands coming in india

Ashok kumar Rampuria 29-11-2016 06:28PM
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