Apparel exporters seek raw material security; PLI-2 scheme

ENA Sectors 2022-09-01 11:59:13 New Delhi, Sept 1 (KNN) Exporters of apparel have urged the government to address issues related to ensuring raw material security and announcement of Production Linked Incentive (PLI) - 2. During the 43rd Annual General Meeting (AGM) of Apparel Export Promotion Council (AEPC) exporters raised the RoSCTL issue and requested government to announce a new ATUF Scheme, said a press release. <a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a> Addressing the AGM, Naren Goenka, Chairman AEPC said, We ended the year 2021-22 with more than USD 400 billion of goods exports for the first time ever, apparel exports also did well by registering USD16.2 billion worth of exports, despite challenges. In the first quarter this FY April- June 2022-23, apparel exports registered USD 4492.0 million of exports compared to April- June 2021-22, which was USD 3407.0 million, registering a growth of 31.8 per cent, he added. Further he appreciated government efforts to increase export competitiveness, the string of FTAs and policies like PLI Scheme, PM MITRA, etc. Goenka said these schemes can propel Indian manufacturers to become global champions as they will get the level-playing field for Indian apparels as against competing countries. Commenting on the FTAs signed with Mauritius, the UAE and Australia, the Chairman said, These FTAs will surely neutralize the advantage which our competitors use to enjoy in some of the important markets because of GSP and other NTBs. Requesting the government to address the stress points for trade, he highlighted, Most important being the raw material security, owing to the spiraling prices of raw cotton and cotton yarn. He emphasised on another pressing issue related to RoSCTL. We have been requesting the government to delete the condition in the notification issued by DoR for holding the transferee liable for the non- realization / excess availed by the exporter, which will also curtail its misuse, Chairman informed. Additionally, AEPC has requested the government to announce the new Technology Upgradation Fund Scheme (TUFS) scheme as the ATUF scheme had expired on 31st March 2022. (KNN Bureau) 30395 https://knnindia.co.in/news/newsdetails/sectors/apparel-exporters-seek-raw-material-security-pli-2-scheme 2022-09-01 11:59:13 knnindia.co.in Apparel exporters seek raw material security; PLI-2 scheme