AEPC optimistic of USD 17 bn target, demands separate chapter for pre/post packing credit rate
Updated: Nov 12, 2013 04:40:50pm
New Delhi, Nov 12 (KNN) Optimistic about achieving the apparel export target of USD 17 billion set by the government, the Apparel Export Promotion Council (AEPC) said that exploring new markets as well as diverted orders to India have helped manufacturers here.
“With the current growth of rate we can achieve the apparel export target of USD 17 billion set by the Government. We welcome the current growth of rate in overall exports,” Chairman AEPC A Sakthivel said.
Hailing the 13.7 per cent growth in exports for the month of October, Sakthivel stated, “With the stabilization of rupee and structural changes in the competing markets India’s garment exports have significantly improved; our performance is reflected in the stronger order book visibility for this season.
“Our exports have also grown because of tapping of new markets like Middle East, Latin America, Japan, Russia and Australia and our effort to leverage exports by export promotion events across the world,” he said.
“In recent months large international buyers have diverted orders to India. Big brands and international chain stores like GAP, Zara, Mango, Elcorte, Desigual, Tommy Hilfiger, Walmart, H & M, JC Penny, Target, etc are sourcing garments from India,” he added.
We have good design and raw material strengths and our business is based on exceptional customer service, respect and integrity in the pursuit of mutually profitable outcome,” he added.
Further, Chairman AEPC said, “we are registering the growth of almost 13 per cent from more than six months in apparel exports. We are an employment critical sector and 80 per cent of garment Industry being SME’s the industry is facing the high cost of finance, increasing the repo rate increase the lending interest rate.
AEPC also batted for a separate chapter for pre/post packing credit rate of 7.5 per cent. “RBI should consider this once again so that momentum of garment export growth is not lost,” he said.
According to the trade data released yesterday, India's exports rose by 13.7 per cent to USD 27.27 billion in October, while the imports fell by 14.5 per cent to USD 37.82 billion, narrowing the trade deficit of the country to USD 10.56 billion.
According to data released, the value of merchandise exports in October was USD 27.27 billion, as compared to USD 24.03 billion recorded in the same month last year, registering a year-on-year growth of 13.47 per cent. (KNN/SD)
“With the current growth of rate we can achieve the apparel export target of USD 17 billion set by the Government. We welcome the current growth of rate in overall exports,” Chairman AEPC A Sakthivel said.
Hailing the 13.7 per cent growth in exports for the month of October, Sakthivel stated, “With the stabilization of rupee and structural changes in the competing markets India’s garment exports have significantly improved; our performance is reflected in the stronger order book visibility for this season.
“Our exports have also grown because of tapping of new markets like Middle East, Latin America, Japan, Russia and Australia and our effort to leverage exports by export promotion events across the world,” he said.
“In recent months large international buyers have diverted orders to India. Big brands and international chain stores like GAP, Zara, Mango, Elcorte, Desigual, Tommy Hilfiger, Walmart, H & M, JC Penny, Target, etc are sourcing garments from India,” he added.
We have good design and raw material strengths and our business is based on exceptional customer service, respect and integrity in the pursuit of mutually profitable outcome,” he added.
Further, Chairman AEPC said, “we are registering the growth of almost 13 per cent from more than six months in apparel exports. We are an employment critical sector and 80 per cent of garment Industry being SME’s the industry is facing the high cost of finance, increasing the repo rate increase the lending interest rate.
AEPC also batted for a separate chapter for pre/post packing credit rate of 7.5 per cent. “RBI should consider this once again so that momentum of garment export growth is not lost,” he said.
According to the trade data released yesterday, India's exports rose by 13.7 per cent to USD 27.27 billion in October, while the imports fell by 14.5 per cent to USD 37.82 billion, narrowing the trade deficit of the country to USD 10.56 billion.
According to data released, the value of merchandise exports in October was USD 27.27 billion, as compared to USD 24.03 billion recorded in the same month last year, registering a year-on-year growth of 13.47 per cent. (KNN/SD)
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