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Apparel exporters want stimulus in budget

Updated: Jun 13, 2014 01:17:39pm
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New Delhi, Jun 13 (KNN) Apparel exporters have asked the government for more support in the ensuing foreign trade policy and the budget, with stimulus to the exports in the sector.

Chairman of the Apparel Export Promotion Council (AEPC), Virender Uppal has said that the focus of the new government should be to help the industry in enhancing competitiveness of Indian products in the global market.

Simplification of labour laws and availability of credit at affordable rates wold further strengthen exports, he said.

Apparel exports from India increased by 24.96 per cent to USD 1.49 billion in May, helped by strong demands in non-traditional markets like Latin America, West Asia, Southern Africa and East Asia, even though shipments to the US and Europe remained sluggish.

Uppal said, "this impressive growth is a clear cut indication that India is emerging as one of the top sourcing and compliant destinations in the world."

The problem areas in the neighbouring competing countries have also given the thrust to our exports like vacation of export market space due to serious labour problem in China, according to AEPC head.

Myanmar and Bangladesh are facing the problem of non-compliance for the large number of factories, he said.

He further added that demand has still not picked up in the US and EU markets. However, demand for Indian apparels is increasing in new destinations like Latin America, West Asia, Southern Africa and East Asia. (KNN/SD)

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