Interviews
Sick garment cos recieve no medicine from Budget
29 Feb '08
2 min read
Some of the other recommendations of the Council had been ceiling of PLR for T&C industry below the general PLR to improve investment, enhancement in drawback to match the erosion of realizations and a Product Development Fund for incentivising product diversification.
The council is hopeful that atleast some of the policy reform options suggested in the Economic Survey, like increase in work hours to meet seasonal demand, shall be exercised in the coming year.
Apparel exports are expected to record a decline of 13% - 14% in rupee terms in the current fiscal, the steepest fall in the last five years. On the job front, losses to the tune of 6 lakh are expected in the current year.
The industry foresees continuation of closures and job losses in 2008-09 and large scale shift in garment manufacturing and sourcing to neighboring destinations, in the absence of any policy support at this juncture.
The council is hopeful that atleast some of the policy reform options suggested in the Economic Survey, like increase in work hours to meet seasonal demand, shall be exercised in the coming year.
Apparel exports are expected to record a decline of 13% - 14% in rupee terms in the current fiscal, the steepest fall in the last five years. On the job front, losses to the tune of 6 lakh are expected in the current year.
The industry foresees continuation of closures and job losses in 2008-09 and large scale shift in garment manufacturing and sourcing to neighboring destinations, in the absence of any policy support at this juncture.
Apparel Export Promotion Council (AEPC)
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