Search Result for : Apparel Exports

The Dollar Business Bureau Apparel exports from India has dropped by 17.78% in the month of March this year to $1.49 billion as compared to $1.81 billion in the same month last year, according to the industry body Apparel Export Promotion Council (AEPC). “India’s apparel exports has shown a decline of 17.78% for the month of March 2018 against the corresponding month of March 2017 as per the latest trade data,” AEPC said in a statement. “The Indian readymade garments (RMG) exports were to the tune of $1.49 billion in March this year against the $1.81 billion, in the corresponding month last year,” the statement said. In rupee terms, exports were Rs.9694.68 crore in the given month as against Rs.11946.37 crore in March 2017, ...

The Dollar Business Bureau India’s apparel production has shown a decline of 10.4%, during the period April-January 2017-18, according to the India Industrial Production (IIP) data released by the Ministry of Statistics and Program Implementation. The production of apparels is witnessing a continuous decline since May 2017, on month-on-month basis. From a positive growth of 1.3% in April last year, the production declined by 5% in the month of May. In June, the decline was 3.2% while in July, it recorded a dip of 5.1%. In the months of August, September, October, November and December, the apparel output recorded a drop of 6.4%, 7.2%, 11%, 13.1% and 13.5%, respectively, as per the IIP figures. Commenting on the decline, HKL Magu, Chairman, Apparel Export Promotion Council (AEPC) ...

The Dollar Business Bureau NITI Aayog CEO Amitabh Kant said on Thursday it is highly important for India to ratify free trade agreement (FTA) with Europe at the earliest as nations such as Vietnam and Bangladesh already have preferential access to EU markets.  “Countries like Bangladesh and Vietnam are having preferential access in European Markets and hence it is extremely important that we get the FTA with Europe ratified at the earliest,” Kant said while speaking at an event organised by Apparel Export Promotion Council (AEPC). The Government think tank’s CEO further said there is immense opportunity for India in the apparel sector as China has started moving out of the sector. “Today, the wages in China are 2-3 times that of India and ...

The Dollar Business Bureau Apparel exporters’ body, Apparel Export Promotion Council (APEC) has welcomed the Government’s move to double the rates of incentives under the Merchandise Exports from India scheme (MEIS) for readymade garments and made-ups. Last week, the Directorate General of Foreign Trade (DGFT) has increased the rates for garments and made-ups to 4% from 2% of value of exports under the MEIS. The revised rates are effective from November 1. Commenting on development, AEPC Chairman Ashok G. Rajani said, “We welcome the increase in the rates of MEIS. The enhancement in the rates will help in the fulfilment of orders for the Christmas festival as it will result in easing the blocked capital. It will help in the mitigation of the ...

The Dollar Business Bureau Exporters body Apparel Export Promotion Council (AEPC) said on Friday that the impact of Goods and Services Tax (GST) is stressful on apparel exporters, especially small and medium businesses, due to higher transaction cost and increase in working capital. “The positive impact of GST is yet to be felt by the garment industry, where input costs have not come down. Overall effect of GST on apparel exporters, especially small and medium exporters is burdensome and stressful due to substantial increase of working capital and higher transaction cost,” said Ashok G Rajani, Chairman, AEPC. “MSMEs have to recruit services of qualified CA’s to be able to manage GST payments and refunds. It has not only impacted the production of apparel ...

The Dollar Business Bureau The slew of measures such as reduction of GST rate on man-made fibres, immediate refund of GST and introduction of e-wallet facility for exporters, taken by the GST Council last week, have been welcomed by the Apparel Export Promotion Council (AEPC). “AEPC welcomes the slew of measures taken by the GST Council under the Chairmanship of Finance Minister Arun Jaitley in its 22nd meeting,” the Exporters’ body said in a statement. AEPC views that these measures will provide immediate relief to the apparel exporters which have been going through a stressful phase due to various factors, global as well as domestic, it added. The measures include reduction in the GST rate from 18% to 12% of man-made items like synthetic filament yarn ...

Sheela Mamidenna Minimum wages in the garment industry if doubled to Rs.18,000 per month will jack up costs, hit exports and lead to job losses, AEPC Chairman Ashok Rajani claimed today. AEPC called on the government to clear the air on the issue. In a letter to the textile ministry, Apparel Export Promotion Council (AEPC) Chairman Ashok G Rajani said there is a lot of confusion surrounding minimum wages after clearance of the Wage Code Bill by the Cabinet. "This has impacted the booking of export orders, and to restore confidence of foreign buyers, it is important that a suitable clarification is issued by the government," Rajani said in the letter.  Extending her views on the Chairman's letter to the Textile Ministry,  Chandrima Chatterjee, Advisor, ...

The Dollar Business Bureau  In an open letter to the Finance Minister Arun Jaitley, A. Sakthivel, Regional Chairman, Southern Region, Federation of Indian Export Organisations (FIEO) today made an appeal that, ‘there are a number of activities, which are undertaken by the job-workers in the garment making industry which have been left out of the GST rate of 5%!’  In its recent meeting held on June 11, the GST Council had provided a major relief to the textiles and apparels manufacturers by announcing a sharp reduction in GST rates on certain merchant services from 18% to 5%. Industry leaders had welcomed the move saying that the massive reduction would help job workers to survive and compete with those in the captive manufacturing ...