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Indian govt initiates review of export promotion councils
20
Feb '15
The Government of India has initiated a review of the functioning of all the 23 export promotion councils (EPCs) to which it provides funds in order to boost exports and other related activities, according to media reports.
 
Ten EPCs, including apparel, handloom, carpet and handicraft, are administered by the ministry of textiles.
 
At a meeting called by the textiles ministry in December 2014 to review the functioning of these EPCs, it was decided that greater transparency is necessary in the election procedure of these councils, reports say.
 
The meeting also decided on a quarterly review of the activities of EPCs with regard to exports and organising exhibitions and buyer-seller meets both in India and foreign countries.
 
The textiles ministry is likely to bring in a provision wherein all the executive heads of the ten EPCs would have to inform the ministry regarding their foreign trips.
 
India’s annual exports are around US$ 300 billion, with the textile and apparel industry accounting for $40 billion. (RKS)
 

Fibre2fashion News Desk - India

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