He replaced Ashok Rajani as AEPC chairman.
"These are challenging times for the Industry with global headwinds blowing over us. The industry has not been able to cope-up with the sudden dilution of drawback and ROSL rates and is still reeling under the adverse impact of the move," Magu said.
"We are hopeful that this year the government will extend the necessary support to the sector through continuation old drawback rates and RoSL (Rebate of State Levies) Scheme rates till June 2018 which would help us in making the Indian Apparel Industry the most competitive globally."
Magu, the Managing Partner of Jyoti Apparels, has held various positions such as the President of Garment Exporters Association, Chairman of Finance & Budget sub-committee, AEPC, Board of governor of ATDC (Apparel Training & Design Centers) in his career of over four decades.
He has been a recipient of Certificate of Merit by President of India for doubling the exports during the year 1993-94 and has also served as the Member of the grievance Committee of Director General of Foreign Trade.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)