The Ministries of Textiles and Commerce have approved the funding under Market Access Initiative for the proposed buyer-seller meet (BSM) to be organized by the Apparel Export Promotion Council (AEPC) in Uruguay and Chile between March 16 and 22, according to a council release.

The BSM is being organized after taking into account the huge potential for export of readymade garments from India. AEPC has tied-up with the Santiago Chamber of Commerce in Chile for inviting prospective garment buyers to the meet.

Export of readymade garments to Uruguay increased from 9.5 million US dollar in 2013 to 13 million US dollar the following year and Chile’s import volume from India climbed from 45.1 million US dollar to 50.7 million US dollar during the same period.

Meanwhile, AEPC has elected Ashok G Rajani as its new chairman for 2016-17 after the expiry of the tenure of its former chairman Virender Uppal,according to a council release.

Rajani is the founder of the leading readymade garment export house – Midas Touch Exports, which deals in both woven and knitted garments. He also serves as the trustee of the Clothing Manufacturers Association of India (CMAI) and is the governor on the board of Apparel Training and Design Centre (ATDC) and Institute of Apparel Management (IAM).