Apparel Sector Earns Rs. 49,200 Crores During April-October, 2013, Registering growth of 26%: Dr K S Rao, Union Textiles Minister

Textiles Industry to be the Driver of Manufacturing and Employment Generations: Dr. A Sakthivel, Chairman AEPC

The apparel sector has earned Rs. 49,200 crore forex in April-October, 2013, showing a growth of 26% over the same period during year 2012. Income in both the currencies i.e. INR and US$ are buoyant. In dollar terms, the growth is 15.5% (US$ 8.2 billion) during the same period. I am confident that we are on the road to recovery. Signs of its revival are visible in USA & EU, which guided my instinct to revise the apparel export target to USD 17 Billion during the current Financial Year. Let's keep a high target in next year. I am sure the industry will compensate its deficit and shall try to reach US $ 60 billion in the next 3 years, said Dr K S Rao.

Underlining the key objectives of 12th five Year Plan, Shri Rao said, achieving annual average growth rate of 11.5% in volume terms in cloth production, Increase domestic value addition and technological depth, training of 35 lakh persons, additional employment to 15.81 million workers by 2016-17, etc are the key priorities. Minister also underlined need to innovate and explore new non-traditional markets like Israel, Russia, Brazil and Japan etc. The new markets should be perceived actually as a new growth opportunity.

Chairman Apparel Export Promotion Council (AEPC), Dr. A Sakthivel, highlighted the role the apparel industry in lieu of 43.20 billion US $ target for a strong textile value chain and exports growth. The apparel export industry has the responsibility of contributing around 40% this. In view of the conducive environment and signs of revival in major US & EU markets Chairman added that AEPC shall do it but to achieve the revised target.

Dr. Sakthivel once again raised the request of apparel exporters for 5% Duty Credit Scrip for import of those fabrics which are not widely available in India. Chairman emphasized, This proposal has been discussed with our Ministry, DGFT, Ministry of Commerce, Cabinet Secretary, NMCC, Ministry of Finance and everybody is not only supporting us for this proposal, rather they have appreciated our innovative proposal. In such a time, when buyers are forced to divert orders from China and Bangladesh, we need this urgently.

Smt. Zohra Chatterji, Secretary (Textiles) in her remark stated that, In order to expand the horizons of textile and apparel industry, a large number of initiatives have been taken in consultation with the various stakeholders. We want you to exert more and clock USD 17 billion dollars exports during 2013-14 and develop capabilities to raise the exports to the level of US $ 60 billion in next 3 financial years. The garment sector needs to identify key areas to work on, focus their energies on evolving new markets, establishing brand India and partnering with Skills training institutions for enhancing the skill base of our industry in view of the demands that growth will generate, she added.

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