New Delhi, Feb 2 (KNN) Welcoming the government’s efforts to enhance the productivity of extra-long staple (ELS) cotton, Apparel Export Promotion Council (AEPC) has said the decision to adopt cluster-based and value chain approach through Public Private Partnerships (PPP) will facilitate collaboration between farmers, state and industry for input supplies, extension services, and market linkages.

Commenting on the union budget Naren Goenka, Chairman, AEPC said, “In the long run it will be helping garment industry provide raw material security.”

Terming it as a foreword looking, growth-oriented budget, Goenka said the focus on infrastructure, investment, green growth, youth power and inclusive development will boost India’s journey to be the fastest growing- robust economy.

The announcement to cover more sectors under the PLI scheme and support to the MSME sector will help thrust exports and investment in the country, Chairman AEPC added.

“Rs 9,000 crore corpus for a revamped credit guarantee scheme will surely alleviate the stress of small and medium enterprises in India,” he said.

Lauding the government, Goenka said as desired by the exporters, the increased allocation for the Interest Equalization Scheme from Rs 2376 crore in 2022-23 to Rs 2932 crore in 2023-24, which is up by 23 per cent, will help support exports.

Further the Chairman stated, “The increased allocation of ATUFS from Rs 650 crore in 2022-23 to Rs 900 crore in 2023-24 which is an increase of 38 per cent will help in release of payment of pending cases faster.”  (KNN Bureau)