Apparel export sector let down by interim trade policy

An apex body of garment exporters today said it is extremely disappointed by the government’s inaction to help the sector tide over impact of global economic downturn.“The textile and apparel sector has been total ignored,” said chairman of the Apparel Export Promotion Council (AEPC) Rakesh Vaid. “No impetus has been provided in the two economic stimulus packages or the interim foreign trade policy.”The procedural simplifications announced under the duty entitlement passbook (DEPB) scheme and cut in customs duty from five to three per...

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Garment exports fall short of $11.6 billion target due to economic slowdown

New Delhi, Apr 29 – Garment exports from India fell 14 per cent short of the 11.62 billion dollar target for 2008-09 but leveled 4.6 per cent over last year’s performance.Provisional figures released today by the Apparel Export Promotion Council (AEPC) showed that 10.13 billion dollars worth of garments were exported in the last financial year compared to 9.68 billion dollars in 07-08.In rupee terms, the figures work out to Rs 46,628 crore for 08-09, up 19.55 per cent from Rs 39,002 for 07-08.“We are happy that garment exports have crossed...

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Demand from textile cos firms up starch mart

The domestic starch makers are witnessing a rise in demand for their finished products. This upsurge can be attributed to the textile sector which players say will sustain. According to them, growth in demand will help firm up starch prices.The starch prices have increased to Rs 800 for a bag (1 bag = 50 kg) from Rs 725-730 a bag in the last couple of weeks, and are expected to rise to Rs 840 a bag. Starch is essentially produced from maize as a raw material.“Demand from the textile industry for starch, which declined to as low as 30 per cent,...

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