Apparel Exports surge by 17.6% this Fiscal
Gurgaon: The 22nd edition of India Market Days got recently inaugurated at Apparel House, Gurgaon by Mr. Sudhir Sekhri, Chairman EP(export promotion), along with, EC(executive committee) member and Mr Puneet Kumar, Secretary General, AEPC.
Speaking on the occasion Mr Sekhri informed that this time 52 exhibitors were displaying their Spring Summer 2015 collection.
Highlighting the export performance, Mr. Virender Uppal, Chairman AEPC in his message stated that, Garment Exports are on the sustained path of growth incurring a growth of 17.6% this fiscal.
Exports in dollar terms for the month of September 2014 stood at 1.3 billion thus registering a 16% growth. The cumulative April- September of the FY 2014-15 increased by 17.6 per cent over the same period of previous FY and reached to USD 8.3 billion.
Increasing labour cost in China, non-compliance of large number of factories in Bangladesh, high rate of inflation, currency appreciation, etc with the competing countries have provided India a big opportunity in view of its relative advantage.
A small push from the Government is being advocated by the council i.e. its policy support which may help India to get more business as overseas buyers are looking at India as safe and reliable option for the sourcing.
AEPC has been pushing for the industry enabling policy to be announced in the new Foreign Trade Policy said Mr Uppal. We are working for it and the issues like All Industry Rates of Drawback, Interest subvention, procedural simplifications to cut the transaction cost and time, simplifications of labor laws, etc have been raised with the Government he said.