Home / Knowledge / News / Apparel/Garments / Indo-EU FTA can generate 2.5 mn jobs in our economy, AEPC
Indo-EU FTA can generate 2.5 mn jobs in our economy, AEPC
14
Jul '10
Garment exports from India dropped 2.64 per cent to 10.64 billion dollars in 2009-10 compared to 10.93 billion dollars in the previous financial year, fresh data released by the Apparel Export Promotion Council (AEPC).

The first two months of the current financial year have shown 5.23% decrease in rupee term, as compared to the previous year. Exports of apparel are highly price sensitive, according to Mr. Premal Udani, Chairman, Apparel Export Promotion Council (AEPC).

The unprecedented rise in price of raw materials (cotton & yarn) over the past few months and also general increase in all other costs due to hike in duty of petroleum products has made Indian garments uncompetitive in the world market.

While our exports are falling, exports from low cost countries, such as Bangladesh, Vietnam, Cambodia continue to rise added Mr. Udani. Bangladesh today exports almost 13 Billion dollar of apparel. This is roughly 20% more than Indian garment exports.

Mr. Udani requested the government's support in terms of higher duty draw back rates to offset cost disadvantages in India.

Mr. Udani also urged the government for a faster implementation of the Indo-EU FTA. This FTA's has a potential of increasing India's textiles and clothing exports to the European Union by over 3 billion dollar. It will also create an additional 2.5 million jobs in our economy.

Mr. Udani welcomed the government's initiatives in the skilled development area. The ready made garment industry is the second largest employer, after agriculture in the country.

Recently the Government of India through its skilled development initiatives is seeking to fund the ATDC (Apparel Trading & Design Centers) initiatives of AEPC to develop skilled man power for this sector.

Currently the apparel sector employs 6 million people directly and 3 million people indirectly. 50% of the work force is women. With the right government policies, this sector has the capacity to absorb another 5 million workers directly within the next 3 years.

Apparel Export Promotion Council (AEPC)

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Suresh Patel
Sidwin Fabric

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mike Hoffman
Gildan Activewear SRL

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

Rupa Sood and Sharan Apparao
Nayaab

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search