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Govt measures to stimulate economy inadequate: AEPC Chairman

03
Jan '09
Shri Rakesh Vaid - AEPC Chairman
The Apparel Export Promotion Council (AEPC) said that it is extremely disappointed by recent government's measures for stimulating the economy.

"The government has done nothing to help the 10 billion dollar apparel export sector which employs nearly 3.9 million workers," said AEPC chairman Rakesh Vaid.

Lakhs of workers have lost work due to global economic recession and consequent falling sales in the United States and the European Union.

"We are in consultation with officials and hope the government will come up with concrete measures soon to revive the textile and readymade garments industry," said Mr Vaid.

Apparel exports from India are likely to fall 24 per cent short of the 11.62 billion dollar target for current fiscal year (2008-09) and may total up to 8.78 billion dollars.

In 07-08, the country exported garments worth 9.69 billion dollars, nine per cent more than in previous year.

Apparel Export Promotion Council


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