Mr. Virender Uppal, Chairman AEPC, has expressed his happiness over the impressive growth registered by the garment export industry, for the month of May 2014 and congratulated the efforts made by fellow exporters of apparels from India.
Mr. Uppal in his statement has stated that, “Apparel exports were to the tune of USD 1.49 billion May 2014-15, with increase of almost 25 per cent vis-à-vis the corresponding month of last financial year. India’s RMG export to world for cumulative months i.e. April-May 2014-15 has posted impressive 20% growth with USD 2.81 billion, compared to the same period of previous financial year. During the period April-May 2013-14, India’s apparel exports were to the tune of USD 2.35 billion.”
AEPC Chairman, Mr. Uppal, commented that, “This impressive growth of 25% is a clear cut indication that Indian industry is poised to emerge as one of the top sourcing destination, with high on ethical agenda and ensuring best compliant standards destinations in the world. The global developments in China and Bangladesh as competing countries have also given the thrust to our exports like; vacation of export market space due to serious labour problem by China (moving To Cosmetics, engineering) and Myanmar and Bangladesh are facing the problem of non- compliance for the large number of factories, etc.
“However, the garment exporters are putting in their best efforts and itching to do much more. Exporters are constantly leveraging the existing strengths in terms of raw material, compliant factories but, the availability of specialty fibre as a raw material is a key constraint to even out the seasonality character of the trade, which is the need of the hour. The government must now allow the request made by apparel export industry for 5% duty scrip at least in case of speciality segment so that we could work to our potential.
“Simplification of labour laws, the availability of soft credit for the industry at a fixed rate of 7%, may further strengthen exports. He also said that the vision of the Hon’ble Prime Minister –“Skill, Scale and Speed” finds a lot of synergy in Apparel Export Promotion Council, which is already doing a lot of work in training the manpower, employing them in large numbers in apparel factories and geared to speed up, provided it receives little support from government in policy initiatives and tax reforms”.
Mr. Uppal, further observed that, “While the sluggish condition still prevails in US and EU we have consciously tuned in our efforts to look for newer and non-traditional destinations, like Latin- America, West- Asia, Southern- Africa and East- Asia- diversifying our product and market base.