Almost 1,189 international buyers from 59 countries have registered to participate in the 67th India International Garment Fair (IIGF), the Apparel Export Promotion Council said.
“IIGF provides a direct marketing platform to MSME exporters from across the country bringing together almost 500 exhibitors and more than 2,000 overseas buyers and buying agents,” said Naren Goenka, chairman AEPC, adding that it is the biggest platform in Asia.
The buyers are visiting from the US, Brazil, Japan, UK, Spain, Australia, Poland, Colombia, Greece, Italy, Egypt, Chile, Argentina, UAE, Thailand, France, Germany, Canada and Iran, among others.
As per the council, in the last physical fair held in January 2020, the business generated was $166.17 million.
“We are expecting a growth of 10% even though adverse marketing conditions are prevailing in various countries,” Goenka said.
The global apparel market which was just under $1.5 trillion in 2013 is expected to generate revenues to the tune of $1.8 trillion in 2022 and $1.9 trillion in 2025 before it closes to $2 trillion in 2026, according to AEPC.
AEPC said it has put up a stall wherein various start-ups will be showcasing their efforts in the textiles and garment sector. As per Goyal, there are about 600 textiles start-ups in India and the Production Linked Incentive scheme would be a window to the investment flow into India and thrust exports of MMF Apparels and Technical Textiles along with scaling their production to match global demand.