India is now globally second largest textile exporter

03 Jun '14

4 min read

"The rising interest rate is another issue which hampers growth for which AEPC once again has put in its request to the government for a separate chapter for pre and post shipment export credit at fixed rate of 7.0% interest, as was done in the past also to the apparel export sector and treat readymade garment as the priority sector lending. As the government is contemplating new Union Budget and Foreign Trade policy, I earnestly request government to concede these two demands of RMG sector utmost priority.

"Increasing labour cost in China, non-compliance of large number of factories in Bangladesh provide India a big opportunity in view of its relative advantage, risk appetite of Indian entrepreneurs and a small push from the government may help India to get more business as overseas buyers are looking at India as safe and reliable option for the sourcing.

"But to capture the space in market left by China and Bangladesh, we have to be competitive in pricing, apart from meeting strict timelines, better quality delivery by Indian exporters and therefore, government agencies active support is very crucial. AEPC is pushing in this direction to seek export friendly enabling environment from the government", Mr. Uppal added.

AEPC

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