Centre urged to take measures to arrest downfall of exports

Tirupur Exporters' Association today urged the Centre to take steps to arrest the downfall and restore growth of exports, in view of the decline of all India readymade garments in August last.
The All India readymade garment (RMG) exports, including Tirupur knitwear exports, had declined by 7.3 per cent in August, compared to the corresponding period in 2014-15, TEA President A Shaktivel, said in release today.
To arrest the downfall and restore growth of exports, there was an urgent need for implementing the pending measures like three per cent Interest Subvention on Packing Credit, reduction of bank interest rates, refund of Duty Drawback Rate without delay, he said.

Besides, there was also the need for improvement in the infrastructure of road and port, 24x7 operation in ports for all shipping bills, refund of TUFs Interest subsidy to rejuvenate the exports, Shaktivel said.
He also pointed out that India's competitiveness has come down further due to devaluation of China currency and the employment intensive RMG sector should be given thrust to increase exports and employment.