India is expected to achieve US$ 18 billion (about Rs 1,00,000 crore) apparel export target set by the government for fiscal year 2012 - 13, according to Apparel Export Promotion Council (AEPC), the official body of apparel exporters in India. The country exported garment worth US$ 11.162 billion (about Rs 62,600 crore) in 2010 - 11, growing at a rate of 4.9 per cent year-on-year, against the target of US$ 12 billion (about Rs 67,000 crore), as per the data with the Directorate General of Commercial Intelligence and Statistics (DGCIS). Last fiscal, compared to its set target of US$ 14 billion (about Rs 78,500 crore), India managed to export clothing items worth US$ 13.699 billion (about Rs 76,850 crore), growing at a rate of 22.7 per cent year-on-year.
According to AEPC, reasons like favourable dollar rate, incentives announced in the Annual Supplement to Foreign Trade Policy (FTP) 2009 - 10, number of incentives by way of Focused Product & Market Scheme (FMS) and exporters' efforts to explore new export territories like Japan, Australia, South Africa and countries in Latin America have been instrumental in pushing the segment towards meeting the targets. And it is optimistic about achieving export target of $18 billion set by the government for the current fiscal year.