Home / Knowledge / News / Apparel/Garments / Indian apparel exporters urge for extension of FMS
Indian apparel exporters urge for extension of FMS
18
May '12
Apparel exporters in India have requested the Government to extend the Focus Market Scheme (FMS) for at least six months for exports to the US and Europe.

At a meeting held to discuss India's Foreign Trade Policy (FTP) for 2012-13, to be announced on June 5, several issues were discussed that can help the country to achieve US$ 350 billion export target by the end of next fiscal year.

Representatives of Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of Indian Industry (CII), Federation of Indian Exporters Organizations (FIEO) and several Export Promotion Councils were present at the meeting, which was also attended by Commerce and Industry and Textiles Minister, Mr. Anand Sharma.

Mr. Ajay Sahai, Director General of FIEO, who was present at the meeting, told fibre2fashion, “Garment exporters said the FMS should be extended for at least six months for exports to the US and Europe.”

Everybody at the meeting was of the opinion that high volatility in the dollar exchange rate was not good for exporters and therefore either the demand side of the dollar should be curtailed or the supply be maintained so that dollar remains within the range.

“Exporters said they would prefer dollar to be around Rs. 47-48 rather than Rs. 53-54 as is the case right now,” informed Mr. Sahai.

The exporters suggested that the Rs. 2 billion sanctioned by the Government for marketing is a very small amount considering the export target of US$ 350 billion for 2012-13.

“There was a suggestion that the Commerce Department should create an Export Development Fund, which should have a corpus of at least 0.5 percent of total exports,” revealed Mr. Sahai.

“The Commerce and Industry and Textiles Minister, Mr. Anand Sharma, was very sympathetic towards our viewpoints. He agreed that the current global situation was very tough for exports and assured us that he will take up the issues, raised during the meeting, with the Finance Ministry,” said Mr. Sahai.

Fibre2fashion News Desk - India


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search