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India's Apparel Exports
Apex body for apparel exporters AEPC on Thursday urged the government to extend rebate scheme, RoSCTL, for three more years, stating that it has become a "dire" necessity, given the current global economic uncertainties. The Apparel Export Promotion Council (AEPC) said market sentiments have touched an "all-time" low and the traditional markets of the US and the European Union (EU) are facing unprecedented recessionary trends. In this backdrop, "the extension of this scheme RoSCTL (Rebate of State and Central Taxes and Levies) beyond 31st March, 2024 has become a dire necessity," AEPC Naren Goenka said in a statement. "This scheme (RoSCTL) has helped the apparel industry immensely to plan the business on a consistent basis while staying competitive," he added. He also asked the industry to focus on innovation and attracting Foreign Direct Investments (FDI). "At present, the apparel industry receives a very low level of FDI, although 100 per cent overseas investment is allowed in t
Decline in Chinese garment exports to Japan provides an immense opportunity for the Indian apparel industry to boost shipments to the island nation, AEPC said on Wednesday. The Apparel Export Promotion Council (AEPC) said a strong Indian garment industry with its unique offerings has a huge scope for Japanese trading companies to source from India. Members of the council are participating in the 12th edition of the India Tex Trends Fair in Tokyo. Speaking at the inauguration of the fair, AEPC Chairman Naren Goenka said over 180 Indian exhibitors are participating in the fair. Apparel imports into Japan have witnessed a positive mark in the last three years. Japan's total import from the world, which was USD 28.49 billion in 2018, has now risen to USD 46.72 billion, he said adding Japan is the fourth largest garment importer in the world after the US, Germany and France. Out of the total garment import of USD 23 billion by Japan, India's share is just one per cent. We hold a stron
With India's apparel exports further declining by 10.25 per cent for the month of February 2018 against the corresponding month of February 2017, industry body Apparel Export Promotion Council (AEPC) has raised concerns over the downward trend. As per the latest trade data released by AEPC, India's ready made garments (RMG) exports were to the tune of roughly $1.44 billion in February 2018 against the corresponding month of February 2017, which was about $1.60 billion. In rupee term export for February 2018 was Rs 92.7508 billion as against Rs 107.6774 billion in February 2017 with the decline of 13.86 per cent.According to HKL Magu, chairman of AEPC, already apparel production was on a declining curve with industry registering decline of 10.4 per cent in the apparel production for the period April-January 2017-18. "Now, for the period April- February 2017-18, there has been a drastic decline of 10.25 per cent in the apparel exports. Given the kind of uncertainty which has been ...