The AEPC is urging the government to eliminate the cotton import tariff from the budget
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01 February 2022, Mumbai:
In order to stimulate apparel exports, the Apparel Export Promotion Council has asked the government to eliminate import duties on cotton in the 2019 Union budget. In an interview with Asian News International, AEPC chairman Narendra Goenka said, "We need to abolish the import tariff on raw cotton."
"Raw material prices in India are really expensive, thus it's our main requirement." Cotton prices have risen by over 70% to 80% in recent year. The reduction of the 11 percent import charge on cotton might be one answer. In order for mills to be able to import cotton at a lesser cost."
"Cotton and yarn costs have increased by 70-80%, posing a challenge for garment exports," Goenka added. "So it is our budget's key one-point need."
The AEPC has also emphasized the need of expanding India's manufacturing capacity, signing free trade agreements with other nations, and promoting Indian clothing internationally through export promotion campaigns. Because these commodities are normally shipped out of India, the AEPC also advised that the government give duty-free facilities for importing trims and decorations.
"Until two years ago, trimmings and decorations such as tags, labels, and buttons that are used for branding and are nominated by the customers were permitted duty-free," Goenka explained. "That facility was withdrawn, and we are demanding that it be reinstated since we need to import those trimmings from purchasers' designated sources."
The AEPC was founded in 1978 and is India's official organization for clothing exporters. According to its website, the AEPC has ten offices across India and conducts training programmes for the garment sector.
CREDITS: Fashion Network
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