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AEPC raises concern over continuous decline in Apparel Exports

Updated: Mar 17, 2018 06:14:47am
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AEPC raises concern over continuous decline in Apparel Exports

New Delhi, Mar 17 (KNN) Commenting over the recent trades figures, Apparel Export Promotion Council (AEPC) have raised concern over the decline in the volume of exports from the apparel sector that comprises mainly of the Micro, Small and Medium Enterprises (MSMEs).

India’s Apparel exports has shown a decline of 10.25% for the month of February 2018 against the corresponding month of February 2017, as per the latest trade data released yesterday, AEPC said in a release.

The Indian RMG exports were to the tune of USD 1.44 billion (approx.) in February 2018 against the corresponding month of February 2017, which was USD 1.60 billion (approx.). In rupee term export for the Month of February 2018 was Rs. 9275.08 Cr. as against Rs. 10767.74 Cr. in February 2017 with the decline of 13.86 %.

HKL Magu, Chairman, Apparel Export Promotion Council (AEPC) said that for the period Apr- February 2017-18, there has been a drastic decline of 10.25%, in the apparel exports.

“Already Apparel production is on a declining curve with Industry registering decline of 10.4% in the apparel production for the period Apr- Jan 2017-18.  On the other hand for the period July 2017-February 2018, apparel exports from Bangladesh has registered an 8.68% improvement over last year”, Magu said.

Given the kind of uncertainty which has been prevailing due to US challenging   India's export subsidy program at WTO, We are seriously worried about the future of the Industry.  Exports are on a continuous decline since October 2017.

AEPC also raised concern over the fact that US has filed a complaint at the WTO about India’s export subsidy programmes like  Merchandise Exports from India Scheme,  Export Oriented Units Scheme , Export Promotion Capital Goods Scheme etc.

The fact that US has filed a complaint at the WTO about India’s export subsidy programmes has turned the heat further on India.

The withdrawal of Export subsidies is only going to benefit countries like Bangladesh which is already showing consistent growth in their RMG exports.

It is a drastic situation and we would like to request the government to intervene immediately to redress the situation and also allow the release of the refunds as until refunds start flowing, things will not improve both on the production as well as export front the association added. (KNN/DA)

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