Apparel exporters seek benefits from Ministry
Apparel Export Promotion Council (AEPC) has urged the Minister of Commerce, Industry & Textiles, Anand Sharma to grant export benefits to the apparel sector to help industry.
The textile industry is facing a crisis over rising raw material prices and a decline in overseas orders in the last three months.
AEPC's chairman Premal Udani on Wednesday in his letter to the Commerce Minister has urged the Ministry to consider DEPB for cotton/cotton yarn.
The letter cites out the importance of allowing DEPB of minimum of 15%, as the sector does immense value addition.
As most of the apparel manufacturers use duty drawback route, the letter claims that the sector deserves an incentive in the form of duty drawback, it said.
The letter has also emphasized the need of reinstating the 2% market linked focused product (MLFP) scheme for the US and EU markets.
Sensing the current market sentiment, AEPC believes that consideration of their demand from the Commerce Ministry would help the apparel sector in a big way.