From Our Correspondent, MUMBAI, FEB. 26
“Apparel symbolises the main driver for the entire textile value chain. The importance of the sector lies in ensuring the preservation of traditional crafts and modern skills coupled with mixing the same with buyers’ behaviour,” stated Mr. Anand Sharma, Union Minister for Commerce, Industry & Textiles, here.
Address the member of Apparel Export Promotion Council (AEPC) at the Export Excellence Award and Lifetime Achievement Award function here, the economic importance of apparels can be attributed to its high employment potential, moderate capital investment, high value addition, and potential to earn foreign exchange.
“The apparel sector provides employment to an estimated 11.22 million workers, which mainly come from weaker section including women,” Mr. Sharma informed.
Dr. A Sakthivel, Chairman, AEPC, while delivering his address put stress on the fact that the Government’s vision of doubling the exports is the Council’s mission. “AEPC has put up an ambitious plan for increasing the garment exports to USD 30 billion in three years by allowing import of speciality fabric, which is not widely available in India.
In this regard we have submitted a proposal to the Ministry of Textiles for reducing the custom duty at a flat rate of five per cent on selected specialty manmade fibre and cotton fabrics for reexport purpose on a trial basis. Our proposal has received very positive response during my meetings with Cabinet Secretary, Commerce Secretary, Textile Secretary and DGFT,” APEC President said.
Dr. Sakthivel informed that AEPC has taken on board other Export Promotion Councils for framing the proposal. “I am told that it may take some time. Thus I have requested that in order to take early advantage, duty credit scrip @ 5 per cent, for offsetting import duty on import of such fabric on actual user basis and on nontransferable basis be issued. This is a special request from the industry to boost garment exports in short time”, he added.
AEPC President thanked the Textile Ministry for the major announcements made for the textile industry, which includes 2 per cent interest subvention scheme on readymade garment sector which has been extended up to March 2014; 2 per cent Market Linked Focus Product Scheme for USA and European Union which has been extended up to 31st March, 2013 for readymade garment sector; continuation of TUF scheme, among others.
Mrs. Zohra Chatterji, Secretary Textiles was the Guest of Honour during the event. Mr. S. R. Rao, Commerce Secretary, Ministry of Commerce, Mr. Anup K Pujari, DGFT, Mr. V. Srinivas, Joint Secretary (Exports), Ministry of Textiles were also present on the occasion. The Lifetime Achievement Award was presented to Mr. Rajendra J. Hinduja.
(Source: Tecoya Trend)