Virender Uppal, Chairman, AEPC has expressed concern that the momentum of the garment export growth may slow down as the rupee strengthens over dollar. “With the inflation hovering around 5 per cent and core sector growth improving to 4.5 per cent in February, impacting positively on industrial production, industry was expecting some relief in terms of lowering of interest rate,” he said. AEPC has also requested for separate chapter for pre-post-packing credit rate of 7.5 per cent to the industry. Even the Padmanabhan Committee constituted by RBI, has recommended this sector to be covered under the priority sector lending. RBI should consider this favourably so that momentum of garment export growth is not lost.
