There are also rumors that Bangladesh maybe be given the LDC (least developed countries) status and under this disguise it can get Duty Free access to US also and if this happens according to Mr.Goyal it would be the last nail in the coffin for the Indian Exporters.
Another leading exporter Mr.J.B.Jain proprietor of Rupam voiced the same concerns and felt that until the government does not increase the drawback rates as demanded by the Industry and stabalise the Rupee the Exports will continue to show a downtrend.
Accoriding to Mr.Goyal Several factories are shutting down and layoff have beocme a common practice in the Apparel trade and unutilized capacities can be seen across India.
Governments various schemes and packages have failed to infuse any life in this Industry and a higlhevel meeting with various associations and Confederations must be called by the Textile/Commerce and Finance Ministry to look into the problems of the Trade.
Confederation of Indian Apparel Exporters
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