AEPC urges govt to reverse stagnation in Exports

AEPC urges govt to reverse stagnation in Exports

The apparel exports in India are declining since October due to the fall in the global apparel industry. Due to the release of rebate of state levies (RoSL) and Goods and Services Tax (GST), it has highly effected the sentiments of many people, HKL Magu, chairman, Apparel Export Promotion Council (AEPC) said after seeing a further decline of 22.76 per cent against exports of 1.74 billion US Dollar in April 2017, as per data. India’s apparel exports in April 2018 were to the tune of 1.34 billion US Dollar.

In Indian currency, exports for the month of April 2018 stood at Rs. 8,859.67 crores down by 21.4 per cent against Rs. 11,272.24 crores in corresponding month of the previous year.

Magu with a hope said, “We would like the government to address the issue at the earliest to reverse the trend of stagnating exports in India.”

On the other hand, Readymade garment exports from Bangladesh increased by 9.37 per cent in the first ten months of current fiscal 2017-18.

In fiscal 2017-18 that ended on March 31, India’s apparel exports fetched 16.71 billion US Dollar, a decline of 3.83 per cent compared to exports of 17.38 billion US Dollar in March 2016 -17.

– Apparel and Textile News, Apparel Talk, Indian Apparel