Tirupur, Oct 4 (KNN) India is likely to emerge as the top choice over Bangladesh and China for sourcing of apparel and knitwear garments in the next five years, said an apex body.
Chairman of Apparel Export Promotion Council (AEPC), A Sakthivel told media that global players both in traditional and non-traditional markets are eyeing India's potential for outsourcing with great interest as China is focusing more on the engineering and IT sector while Bangladesh is being looked at as a non-compliant country.
He said India could emerge as the largest hub for sourcing of apparel and knitwear garments in another five years.
Sakthivel also said that for India, which had higher costs than Bangladesh, Vietnam and others, this year was better as many orders were diverted to India from Bangladesh due to non-compliance issues.
The apparel exports can easily cross the targeted 17 billion USD export this fiscal, he said, adding Tirupur, with an export turnover between Rs 12,500- 13,000 crore last year, did business of Rs 6,500 crore till August.
Shaktivel also said AEPC delegations would visit Israel, Japan and Australia to strike deals with major buyers there.