Dr. A Sakthivel, Chairman AEPC, has expressed optimism on the growth of exports. Exports for the Month of July 2013 have grown by 11.64 % compared to the same period last year.
Chairman AEPC has welcomed the growth in the RMG and Textiles for the month of July 2013. In his statement issued Dr. Sakthivel stated that, “The market is US is gaining strength but EU is still under economic stress.
Though, we have registered a growth of around 16% in the RMG in US and EU markets. Our exports diversification in the non-traditional markets and sustained government help has also helped to boost exports”. At the end of the current financial year as per the estimates we are expecting a growth of around 15 to 16 % if the other factors keep supporting the current rate of export growth,” he added.
Chairman AEPC further said, “We can be still better, Garment Exports should be given separate chapter for interest rates in export sector. The availability of credit at softer rates is a critical component. The pre and post shipment credit rates are hovering around 10% which is very high when compared to interest rates available to our competitors. The industry appeals to Government for reintroduction of the separate rates of fixed 7.5 % for the labour intensive sectors of clothing and textiles.
Commerce Secretary has briefed media on the trade data. Exports during June, 2013 were valued at US $ 23785.64 million (Rs. 138901.73 crore) which was 4.56 per cent lower in Dollar terms (0.53 per cent lower in Rupee terms) than the level of US $ 24923.11 million (Rs. 139644.68 crore) during June, 2012.
Cumulative value of exports for the period April-June 2013 -14 was US $ 72455.67 million (Rs. 405104.78 crore) as against US $ 73491.77 million (Rs. 397884.01 crore) registering a negative growth of 1.41 per cent in Dollar terms and growth of 1.81 per cent in Rupee terms over the same period last year.
Imports during June, 2013 were valued at US $ 36034.74 million (Rs.210433.14 crore) representing a negative growth of 0.37 per cent in Dollar terms and growth of 3.84 per cent in Rupee terms over the level of imports valued at US $ 36167.56 million (Rs. 202647.54 crore) in June, 2012.
Cumulative value of imports for the period April-June, 2013-14 was US $ 122635.73 million (Rs. 684167.73 crore) as against US $ 115708.50 million (Rs. 625872.80 crore) registering a growth of 5.99 per cent in Dollar terms and growth of 9.31 per cent in Rupee terms over the same period last year, he said.