Indian garment exports grow 11% in April-June'13

On the outlook of the garment exports Dr A Sakthivel stated that, “Indian apparel exports in the last fiscal were down by 6% amounting to US $ 12.9 billion.  In the last three months of current fiscal 2013-14 exports have shown a robust growth of 10%. In the next ten months of the current fiscal if we keep growing with the same pace then exports would touch around US $ 16 billion.

Increase in the April - June month of FY 2013-14 is attributed India’s good performance in US & EU market as India’s exports to these markets increased by on an average of 16%. 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.”

On the demand from Government Chairman AEPC has written to FM to give separate chapter for interest rates in export sector. In his letter Chairman AEPC wrote, “Reserve Bank of India has announced the credit policy.  However, the garment export industry was expecting lowering of the interest rate, which has not been announced. 

"The pre and post shipment credit rates are hovering around 10% which is very high when compared to interest rates available to our competitors.” It was your initiative through which you had given a separate chapter for interest rates in the export sector.  The industry appeals to you for reintroduction of the separate rates of fixed 7.5 % for the labour intensive sectors of clothing and textiles.”

Apparel Export Promotion Council