India's apparel exports soar 25% in May'14 - AEPC

12 Jun '14

4 min read

“The result is exports in the non-traditional markets accounted almost 33.4% share in India’s total RMG export to world, for the year 2013- 14 and it is growing with positive accelerating slope upwards, though it is low in volume terms.

“As the government is mulling over the Foreign Trade Policy and Union Budget, I would urge the government that with little support on policy front, there is tremendous scope for our country to enhance market share, from existing 3.7% to around 6% within next 3-4 years. Issues like, inflation which is very high (at an average rate of over 9% ) make us non-competitive as the other importing countries are having inflation below 1.5% and are almost price-inelastic with no intention to increase the price upwards they get better deal.

“Other issues like GSP+ benefits to the competing countries like Pakistan add to the stress further. The focus should be on the export enabling policy that can spur the manufacturing, jobs and economic growth in India and on conclusion of India-EU Foreign Trade Agreement (FTA) at the earliest, which has huge potential to boost exports. A Coordination Committee meeting was held at Mumbai under the Chairmanship of Secretary Revenue, Shri Rajiv Takru, where all of the above requests were put forth for deliberation and discussion.”

AEPC

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