India : Indian garment exports up 4.5% in Apr-Jan 2016-17

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Indian garment exports up 4.5% in Apr-Jan 2016-17

31
Mar '17

The exports of readymade garments have witnessed a positive growth of 4.5 per cent in INR terms and 1 per cent in USD terms during April-January, 2016-17, as compared to the same period of previous financial year. During April-January, India exported garments worth Rs 91,467.85 crore in 2016-17 to the world as compared to Rs 87,560.23 crore in 2015-16.

The RMG export figures were revealed by Ajay Tamta, minister of state for textiles, while replying to a Lok Sabha question.

Tamta also said that the government has announced a special package of reforms for apparel sector in June, 2016 targeting employment generation and exports. The special package includes Employee Provident Fund Scheme reforms (12 per cent employer's share of Provident Fund is paid by the government), introduction of fixed term employment, additional incentives under ATUFS and enhanced duty drawback coverage through ROSL.

In addition to the special package for apparel, there are some other initiatives and schemes of the government that are also contributing to exports promotion, added Tamta. These initiatives include 3 per cent Interest Equalization scheme for manufacturer exporters of readymade garments, Integrated Skill Development Scheme, Amended Technology Up-gradation Fund Scheme, 2 per cent MEIS scheme and All India Duty Drawback. (KD)

Fibre2Fashion News Desk – India

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