'Apparel exports register growth of 15.5 pc during Apr-Oct'

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SME Times News Bureau | 11 Dec, 2013
Apparel exports has earned USD 8.2 billion during April-October, 2013, registering growth of 15.5 percent, informed Dr. K S Rao, Union Textiles Minister at the annual export award function of AEPC in Gurgaon on Tuesday.

"The apparel sector has earned USD 8.2 billion forex in April-October, 2013, showing a growth of 15.5 percent over the same period during year 2012. Income in both the currencies i.e. INR and USD are buoyant," said Rao.

"I am confident that we are on the road to recovery. Signs of its revival are visible in USA & EU, which guided my instinct to revise the apparel export target to USD 17 Billion during the current Financial Year. Let's keep a high target in next year. I am sure the industry will compensate its deficit and shall try to reach USD 60 billion in the next 3 years," he added.

AEPC organized its annual export award function 2013 for outstanding export performance for the year 2012-13, at apparel house, Gurgaon. Dr. Rao, came to deliver awards in presence of Zohra Chatterji, the Guest of Honour, Senior Officials of Govt. Of India, Officials of AEPC and the captains of the garment Industry were also present.

During his address, Union Textiles Minister informed that, "During the 12th Five Year Plan, I had emphasized for ensuring raw material safety through National Fibre Policy, Technology Mission on cotton, towards modernization, skill & financial support, etc. I also laid stress for the continuation of TUFS in 12th Plan, Integrated Textile Parks, Integrated Skill Development Scheme, DISHA and even Knitwear Technology Mission under product development have been finalized as Government Policy."

"The Integrated Skill Development Scheme includes leveraging on the existing strong institutions and training experience within the Ministry and ensuring private sector participation through a PPP model," he added.

Underlining the key objectives of 12th five Year Plan, Rao said, achieving annual average growth rate of 11.5 percent in volume terms in cloth production, Increase domestic value addition and technological depth, training of 35 lakh persons, additional employment to 15.81 million workers by 2016-17, etc are the key priorities. Minister also underlined need to need to innovate and explore new non-traditional markets like Israel, Russia, Brazil and Japan etc.

The new markets should be perceived actually as a new growth opportunity, he added.

Chairman AEPC, Dr. A Sakthivel, highlighted the role the apparel industry in lieu of USD 43.20 billion target for a strong textile value chain and exports growth.

The apparel export industry has the responsibility of contributing around 40 percent this. In view of the conducive environment and signs of revival in major US & EU markets Chairman added that AEPC shall do it but to achieve the revised target.

Zohra Chatterji, Secretary (Textiles) in her remark stated that, "In order to expand the horizons of textile and apparel industry, a large number of initiatives have been taken in consultation with the various stakeholders."

"We want you to exert more and clock USD 17 billion dollars exports during 2013-14 and develop capabilities to raise the exports to the level of USD 60 billion in next 3 financial years," she added.