Apparel output drops 10.4% in Apr-Jan; Industry expresses concern
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) ...
Apparel industry is going through a challenging phase: MoS Textiles
The Dollar Business Bureau Minister of State (MoS) for Textiles Ajay Tamta said on Wednesday that India’s apparel industry is going through challenging times and added that the Government has formed a committee to address the concerns and look into the issues raised by the industry. “Apparel industry is going through a challenging phase and to address the concerns of the Industry, a committee has been formed by the Government to look into the issues raised by the Industry,” the Minister said while inaugurating the 60th edition of India International Garment Fair (IIGF) at Pragati Maidan, New Delhi. Tamta further said the textile package announced by the Government is benefiting the sector, immensely. In 2016, the Government has announced a Rs.6,000 crore special package for ...
AEPC demands refund of IGST on apparel machinery import
The Dollar Business Bureau Exporters’ body Apparel Export Promotion Council (AEPC) has asked the Ministry of Finance for the refund of Integrated Goods and Service Tax (IGST) paid on the import of machinery used by apparel manufacturer exporters. AEPC, in a letter written to Ministry of Finance, has stated that after the implementation of GST from July 1, 2017, apparel exporters are required to pay IGST up to 18% on assessable value plus basic customs duty (BCD) while clearing shipments of capital goods under the Export Promotion Capital Goods (EPCG) scheme. “The incidence of a very high IGST without any corresponding relaxation for export obligation has rendered the EPCG scheme unattractive,” AEPC said in a statement. In the letter written to GK Pillai, Chairman ...
Date amended to apparel and clothing under export obligation period
The Dollar Business Bureau The DGFT issued a notification on 28 Sept via notice no.- 35/2015-2020, detailing that the “Export Obligation Period for Special Advance Authorization Scheme for export of articles of apparel and clothing accessories” has been amended to read as 14 Feb 2014 and not 2013 as mentioned in notification no- 29/2015-2020. In other words, this gives exporters of apparel and clothing accessories 18 months of EO from the date of clearance by the customs authority as allowed in Para 4.22(i) of FTP ie, from the date of issue of Authorisation and not from the date of import as specified earlier. In addition the apparel and clothing accessories exporters shall enjoy the privileges already specified in Para 4.42 (a) - wherein Period ...
Indias apparel exports expected to double by 2023
The Dollar Business Bureau India’s apparel exports are expected to double in the next eight years, increasing at a compounded annual growth rate of 9%, more than the average increase in global trade in the sector, a study said. The total export value will increase from $40 billion in 2013 to $95 billion in 2023, a media report said citing a study by research firm Technopak. The Indian textile and apparel market which was estimated at Rs. 3.20 lakh crore in 2013, is projected to touch Rs. 7.57 lakh crore in the coming eight years, the research said. On the other hand, the global textile and apparel trade is expected to grow at 5% during the period. In 2013, the ...
