AEPC seeks early announcement of PLI 2.0 scheme

New Delhi, Dec 15 (KNN) Raising several issues with the government, the Apparel Export Promotion Council (AEPC) has asked for early announcement of the Production Linked Incentive (PLI) 2.0 scheme, including 10 high potential MMF garment products and cotton apparel products under the scheme.

Highlighting the demands of the industry, Chairman AEPC, Naren Goenka stated, “We have briefed the government about the RMG exports scenario and issues we are facing currently.”

AEPC has sought for reduction of the value addition criteria, extension of ATUFS, RoSCTL disbursements through bank transfer, relaxations to apparel exporters under various provisions of FTP.

It has also request for extension of GST exemption on International Outbound Freight, etc.

Goenka said that RMG exports also declined as most of the traditional markets of Indian RMG including UK, EU and the USA are witnessing recession.

It has led to shrinking of demand on one side and buyers asking for 15 per cent discount on the other, AEPC has requested government for expediting FTAs in these markets and ensure all tariff lines of RMG sector, which will enable a duty reduction of existing 9.6 per cent and act as a strong breather.

Indian RMG exports were to the tune of USD 9161.4 million during April-October 2022-23 as against USD 8589.3 million during the same period in 2021-22 depicting the growth of 6.7 per cent.  (KNN Bureau)