AEPC requests govt to look into its demands favourably

13 Jul '15

4 min read

The US constitutes 21.7 per cent of India’s RMG exports and the market condition there is still on the path of gradual recovery. Further, buyers are asking 25 per cent lower price to place orders as inflation is going down in importing countries and competing countries are offering products at lower costs.

In 2014, global apparel exports stood at $473.6 billion, of which India accounted for only $16.5 billion, while China contributed $173.5 billion, almost 11 times that of India. Even Bangladesh with $28.1 billion exported almost double of India. Thus, India is way behind countries like China, Bangladesh and Vietnam in garment exports. “The need of the time is to look into the situation and provide policy support along with the exports incentives on urgent basis,” said Uppal.

Speaking on the $18.7 billion target fixed by the Ministry of Textiles for fiscal 2015-16, Uppal said, “We could achieve 97.66 per cent of the target in the last FY (2014-15) registering a growth of 12.3 per cent and $ 16.85 billion in value terms. This was possible because of the government support/incentives based on the Chapter 3 provisions of FTP along with the duty drawback, TUFs, EPCG, interest subvention and other schemes of the government. Achieving the target of $18.7 billion in 2015-16 would be very ambitious task and difficult to achieve, unless the recommendations of the AEPC are accepted and implemented in the year 2015-16.” (RKS)

Fibre2Fashion News Desk - India

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