The Apparel Export Promotion Council (AEPC) has rolled out an ambitious plan to increase India’s apparel exports to US$ 30 billion in three years, AEPC chairman Dr. A Sakthivel has said.
Speaking at a function to present awards for excellence in apparel exports, Mr. Sakthivel said AEPC’s mission and the Government’s vision is to double India’s clothing exports in a short span.
He said AEPC has suggested the Government to ease the import of such speciality fabrics that are not widely available in India.
AEPC has submitted a proposal to the Ministry of Textiles for reducing the custom duty to a flat rate of 5 percent on selected speciality man-made fibre and cotton fabrics for re-export purpose on a trial basis, Mr. Sakthivel said.
The proposal has been framed after discussing with other Export Promotion Councils and has also been discussed with the Cabinet Secretary, the Commerce Secretary, the Textiles Secretary and the Directorate General of Foreign Trade (DGFT), he added.
As it may take some time for the Government to accept the proposal and implement it, the AEPC chairman suggested the issuance of five percent duty credit scrip for offsetting duty on import of such fabric on actual user basis and on non-transferable basis, to boost garment exports in short time.
He requested the Textiles Minister to extend the export benefits announced in the year 2012-13 in Foreign Trade Policy for fiscal year 2013-14, since market conditions have not improved.
Further, the early finalization of a free trade agreement (FTA) between India and the EU would also bring new opportunities for increasing apparel exports from India, Mr. Sakthivel said.