The Indian apparel export industry is facing some severe challenges with trade going down. The November month saw a 13.67 per cent decline in exports compared to the same month last year. Negative growth of 40 per cent was observed in October as well. Ministry of Commerce and Industry and Ministry of Textiles are now in process to take some steps to support the industry.
Here are some of the steps that Apparel Resources got to know from top Government officials:
- The Commerce Ministry is working on measures to promote apparel exports from the country. The Ministry is also planning to work like Japan External Trade Organization (JETRO) by opening offices in various countries and providing support to the industry through research in exploring new territories and new products.
- The Ministry’s concern is to facilitate the industry in accessing new markets through various bilateral and multilateral negotiations. Suresh Prabhu, Minister of Commerce and Industries, along with Union Textile Minister Smriti Irani and Amitabh Kant, CEO, NITI Aayog, is expected to meet the Finance Minister Arun Jaitley soon in this regard.
- A Committee had been formed to deliberate on the issue of embedded taxes which will soon come out with its suggestions. Niti Ayaog has strongly recommended to the Government that India needs to rework on import tariffs on MMF, and ministries are well aware of the fact. “There should be zero tolerance on the refund of taxes. It will be really helpful to the exporters,” said Kant.
- Further, Ministry of Textiles is implementing a Knowledge Network Management System (KNMS) to facilitate and exchange of knowledge amongst academia, the farming community and the industry on the productivity of natural fibres and diversification of their by-products. Irani averred that in 2018, Skill Development will be the top-most priority.
