Target name '40 by 30'.

On Friday, November 3, 2023, AEPC said in a statement that apparel exports are expected to reach its 
target of USD 40 billion by 2023 due to initiatives such as exploring new destinations and growing 
strategic stakes.
The Apparel Export Promotion Council (AEPC), the national body of Indian apparel exporters, named 
this target '40 by 30'.
AEPC said in a statement, The '40 by 30' target will reflect the commitment of Indian apparel exporters 
to reach new heights and constraints in the ongoing decade.
AEPC also announced that India's Minister of Commerce, Industries and Textiles, Piyush Goyal, will 
present the prestigious AEPC Export Awards to apparel exporters on December 9, 2023. The 'AEPC 
Excellence Honour' will be awarded for the years 2021-22 and 2022-23. The award will be presented 
in a total of 13 categories spanning various product categories and with both veteran and start-up 
representation.
These awards recognize the outstanding contribution of Indian apparel exporters in building modern 
export enterprises and helping to further develop a unique Indian export culture.
Indian apparel exports have been pegged at around USD 16 billion for 7 years. India's exports of 
manufactured garments during April-September of FY 2023-24 stood at USD 6.92 billion. Which is 
15.3% less than the previous year. Apparel exports totalled US$ 16.2 billion in FY 2022-23. Although 
the government's flagship initiative - PLI scheme and PM Mitra Park India's garment exports are 
expected to increase AEPC. And AEPC also feels that awarding 'AEPC Excellence Award' to exporters 
will boost their morale in achieving the '40 by 30' target.

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