Expressing his satisfaction over the exports growth for the month of November, the Chairman of Apparel Export Promotion Council (AEPC) Wednesday informed that the garment export from the country have registered a robust growth of 21.29 percent in November, 2013.
"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 percent registering to the tune of USD 1051 million; the cumulative growth of 16.15 percent for April- November 2013," said Dr. A Sakthivel, Chairman AEPC.
Commerce Secretary S R Rao released trade data for the month of November; Exports during November, 2013 were valued at USD 24613.29 million which was 5.86 percent higher than the level of USD 23250.94 million during November, 2012. Cumulative value of exports for the period April-November 2013 -14 was USD 203989.66 million as against USD 191957.75 million registering a growth of 6.27 per cent over the same period last year.
Imports during November, 2013 were valued at USD 33833.23 million representing a negative growth of 16.37 percent over the level of imports valued at USD 40454.01 million in November, 2012.
"Our constant endeavor to work on the technology up gradation, skilling, innovation in terms of product and design along with the stringent compliance practices has yielded this kind of growth. We have organized 24 shows across the world this year and response from buyers is fantastic. We have to leverage our strengths of raw material and design to grab the space left open by China," he added.
Chairman AEPC further said, we would like to thank government supportive policies and direction from time to time. We can do much better if government accepts our demand of separate chapter for pre/post packing credit rate of 7.5 percent. RBI should consider this its next policy which is due this month and provide 5 percent scrip on the import of specialty fiber not available in India.
As 80 percent of the garment export sector is SME and has huge potential for employment. Planning commission has also in its 12th plan has indicated that textiles sector can be hub to boost manufacturing in India. We have to work to bring it to reality, he added.
"I would also like to register my sincere thanks to Shri Anand Sharma Union Minister of commerce & Industry for getting the WTO Bali package deal for us. It will go a long run in boosting trade from India," said Dr. Sakthivel.