New Delhi, Dec 12 (KNN) Expressing satisfaction over the growth of exports during November, Apparel Export Promotion Council (AEPC) said that SMEs contribute to 80 per cent of the country’s garment export.
“As much as 80 per cent of the garment export sector is SME and it has huge potential for employment. The Planning commission has also in its 12th plan indicated that the textiles sector can be a hub to boost manufacturing in India. We have to work to make it a reality,” AEPC Chairman A Sakthivel said.
However, “We can do much better if the government accepts our demand of a separate chapter for pre/post packing credit rate of 7.5 per cent,” Sakthivel said.
RBI should consider this its next policy which is due this month and provide 5 per cent scrip on the import of specialty fibre not available in India, AEPC demanded.
In reaction to the trade data released yesterday AEPC chairman said, “The garment exports have been registering a positive growth since last 8 months. The growth of RMG for the month of November 2013 is 21.29 per cent registering to the tune of USD 1.05 billion; a cumulative growth of 16.15 per cent for April- November 2013.”
The apparel sector has earned Rs 49,200 crore in foreign exchange during April-October, 2013, showing a growth of 26 per cent compared to last year.
Exports during November, 2013 were valued at USD 24.61 billion which was 5.86 per cent higher in Dollar terms than the level of USD 23.25 billion during November, 2012.