The Ministry of Textiles and Ministry of 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 with 25 exhibitors at each venue, a council release said.

The BSM is being organized after taking into account the huge potential for export of readymade garments from India, the council noted.

AEPC has tied-up with the Santiago Chamber of Commerce in Chile for inviting prospective garment buyers to the meet and with a PR Agency at Uruguay for getting the buyers to the venue.

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

The BSM will be held between March 16 and 22, 2016.