INDIAN GARMENT EXPORTS TOUCHES US $ 8200 MILLION – SHANKERSINH VAGHELA
Press Information Bureau (press release), India
India has achieved a new milestone of US$ 8200 million in garment exports during the year 2005-06 with a growth of 32% as compared to the previous year. Speaking at the inauguration of Apparel House Auditorium of Apparel Export Promotion Council (AEPC) at Gurgaon today, the Minister for Textiles, Shri Shankersinh Vaghela said that Apparel Export Promotion Council is gearing up for a comparative competitive environment in the industry.
He urged the exporters to enhance capacities so that more and more employment could be generated. He also informed that more outlay for Integrated Textile Parks have been provided with a total investment of Rs.750 crore. This scheme would provide employment to 20,000 people.
The Government would provide Rs.625 crores in 2005-06 and 2014-07 for this purpose.
The Textiles Minister also said that Government has launched the Apparel Park for Export Scheme to give a boost to garment exports. He said that Apparel Park for export schemes has been vitalized and 12 projects have been sanctioned.
The Textiles Minister urged the industry to take advantage of the various schemes of the Ministry. He said that Technology Up-gradation Fund Scheme (TUFS) has been extended up to March 31, 2014. The Scheme provides 5% interest reimbursement in respect of loans availed for investment in benchmarked technology, he added. Shri Vaghela said that Government has allowed foreign equity participation upto 100%, through automatic route, in the textile sector, with certain exceptions.
Speaking on the occasion, the Secretary, Ministry of Textiles, Shri D. P. Singh said the Apparel industry is providing major employment. He hoped that new Apparel House will help garment exporters in building their brand image.
Additional Secretary, Ministry of Textiles, Smt. Asha Swarup and Chairman, Apparel Export Promotion Council, Shri Vijay Agarwal also spoke on the occasion.
The AEPC, an apex agency, sponsored by the Ministry of Textiles, is entrusted with the promotion of exports of readymade garments from India. The Apparel House is a One-Stop Shop for international apparel and textile buyers and is spread over an area of five acres.
NSK/SCC/SK
