A Sakthivel, Chairman AEPC has expressed optimism on the growth of apparel exports from India. Exports for the month of July have grown by 11.64 per cent compared to the same period last year. Sakthivel has welcomed this growth in the RMG and textiles sector, “The market in US is gaining strength but EU is still under economic stress though, we have registered a growth of around 16 per cent in the RMG in US and EU markets. Our exports diversification in the non-traditional markets and sustained government help has also aided exports”. “At the end of the current financial year, as per the estimates, we are expecting a growth of around 15 to 16 per cent if the other factors keep supporting the current rate of export growth,” he added. 

He further said, “We can be still better; garment exports should be given separate chapter for interest rates in export sector. The availability of credit at softer rates is a critical component.  The pre and post shipment credit rates are hovering around 10 per cent which is very high when compared to interest rates available to our competitors.” The industry appeals to government for reintroduction of the separate rates of fixed 7.5 per cent for the labor intensive sectors of clothing and textiles. 

Exports during June, 2013 were valued at US $23,785.64 million (Rs 1,38,901.73 crores) which was 4.56 per cent lower in dollar terms (0.53 per cent lower in rupee terms) than the level of $ 24,923.11 million (Rs 1,39,644.68 crores) during June, 2012.