Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said the lifting export restrictions on N95/FFP2 masks, thereby making all types of masks freely exportable, could fetch around Rs 1,000 crore.
Thanking Commerce Minister Piyush Goyal and Textile Minister Smriti Zubin Irani, he also welcomed the much-awaited notification for an enabling provision in Foreign Trade Policy (FTP) related to the issue of Rebate of State Levies (RoSL). Satthivel said the move will clear pending claims of Rs 464 crore of the apparel exporters.
“The lifting of the export ban on N95 masks opens up the global market finally for all items under Personal Protective Equipment (PPE) which has a total global market of more than $60 billion over the next five years. This will further strengthen the domestic PPE manufacturers to compete at international level,” Sakthivel said.
India is producing more than 5 million N95 and 2/3 ply masks daily. This move will increase India’s exports by Rs 1,000 crore annually.
The country will now be able to bag export orders worth crores of rupees in this huge business opportunity. Annual export of all PPE kits including N95 masks could be around Rs 3,000 crore to Rs 4,000 crore, he said.
On RoSL, Dr Sakthivel said, that the otification that will enable apparel exporters to access pending claims of around Rs 464 crore. This additional liquidity will prove to be crucial for many struggling apparel exporters and will also help some of them gain foothold in the medical textiles sector.