Page 3 - Apparel Exports
Apparel exports gain over domestic sales in Sept quarter
Apparel exporters gained over others in the segment during the September quarter results, the second one (Q2) of this financial year.For instance, KPR Mill, Kitex Garments and Gokaldas Exports, for which external shipment are the bulk of business, has revenue or profit either improving or steady over both the June quarter (Q1), which was just before the goods and services tax (GST) rollout, as well as Q2 a year before. Fabric and garment maker Raymond showed profit of Rs 62 crore as against a net loss of Rs 7 crore in the pre-GST quarter of April-June. However, Page Industries and Arvind Ltd, whose garmenting business is equally focused on the domestic market, saw the impact of GST rollout of 28 per cent on branded apparel, with their Q2 bottom line declining over Q1 this year.According to analysts, there was slightly reduced domestic demand in the month after GST rollout, despite a slight uptick in export sales. Wazir Advisors, a consultancy, says sales for exporters had increased ..
 "Apparel exports gain over domestic sales in Sept quarter")
Apparel exporters meet PMO to voice concerns over GST
Amidst worry about the GST, the representatives of Apparel exporters have met officials at the Prime Minister's Office (PMO). The exporters have insisted to extend the rebate of state levies (ROSL) and duty draw back till issues relates to GST sorts out, failing which the industry will lead to close down.Ashok G Rajani, chairman, Apparel Export Promotion Council (AEPC) confirmed the development and said during the 25 minutes meeting they have told the PMO officials that there are many taxes which hidden and invisible and are not subsumed by the GST.From PMO the meeting was attended by PK Mishra, Additional Principal Secretary at the Prime Minister Office (PMO) and Revenue Secretary Hasmukh Adhia.Today's meeting comes after exports of ready-made garments fell by nearly 41 per cent in October."Trade is going through a major crisis. We need the government to extend the duty drawback and ROSL till March 31, 2018. In the meantime we have told them that We must get refund of that also," ...
 "Apparel exporters meet PMO to voice concerns over GST")
GST, stronger rupee may result in flat Indian apparel exports growth: AEPC
India has reported a marginal five per cent growth in apparel exports worth $6.9 billion for 5%
 "GST, stronger rupee may result in flat Indian apparel exports growth: AEPC")
Apparel export may fall 5% on global slowdown
Sentiment remained weak in domestic sales after many years; may improve with govt's recent incentives for textile sector
 "Apparel export may fall 5% on global slowdown")
