Apex apparel exporters body AEPC today asked the government to provide support in the forthcoming foreign trade policy and Budget to boost sectors shipments and create jobs. "The focus should be on the export enabling policy that can spur the manufacturing, jobs and economic growth in India," Apparel Export Promotion Council (AEPC) Chairman Virender Uppal said in a statement.
Budget is expected to be presented in July which would be followed by the foreign trade policy (2014-19). Simplification of labour laws and availability of credit at affordable rates wold further strengthen exports, he said. Uppal said that apparel exports grew by 25 percent in May and "this impressive growth is a clear cut indication that India is emerging as one of the top sourcing and compliant destinations in the world."
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"The problem areas in the neighbouring competing countries has also given the thrust to our exports like vacation of export market space due to serious labour problem in China. Myanmar and Bangladesh are facing the problem of non-compliance for the large number of factories," he added. Further he said that demand has still not picked up in the US and EU markets. However, demand for Indian apparels are increasing in new destinations like Latin America, West Asia, Southern Africa and East Asia.
"Exports in the non-traditional markets accounted almost 33.4 percent share in India's total garment export to world, for the year 2013- 14," he said.
Source : moneycontrol.com
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