New Delhi, Aug 6 (KNN) After a difficult period, apparel exports from India have started rising again showing a double digit growth in the last three months and the trend may further change for the better.
 
With international demand picking up again, apparel exports may end the current fiscal growing by 24 per cent to reach USD 16 billion in 2013-14, according to the Apparel Export Promotion Council (AEPC).   

“In the last three months of current fiscal 2013-14 exports have shown a robust growth of 10 per cent. If we keep growing with the same pace then exports would touch around USD 16 billion in the next ten months," AEPC Chairman A Sakthivel said.   

Further, garments exports stood at USD 12.9 billion in the 2012-13 fiscal. The US and Europe together account for over 65 per cent of the country's total apparel exports. 
During April-June 2013-14, garment exports grew 11.1 per cent year-on-year to USD 3.5 billion. 

Meanwhile, the council has written to Finance Minister P Chidambaram urging him to reintroduce the facility for the labour intensive sectors of clothing and textiles to avail loans at a lower interest rate of 7.5 per cent.  Exporters say they get loans at interest rate of more than 10 per cent.   

"The Reserve Bank has announced the credit policy. However, garment exporters were expecting lowering of rate, which has not been announced," AEPC said. (KNN/GUNJ)