: AEPC Chairman addresses members at 42nd AGM; says Indian apparels to help achieve 0 bn export target #FinanceIndia #StockMarketNEWS AEPC Chairman addresses members at 42nd AGM; says Indian apparels

@StockMarketNEWS Mon 16 Aug, 2021

Posted in: #FinanceIndia #StockMarketNEWS

AEPC Chairman addresses members at 42nd AGM; says Indian apparels to help achieve 0 bn export target #FinanceIndia #StockMarketNEWS
AEPC Chairman addresses members at 42nd AGM; says Indian apparels to help achieve 0 bn export target New Delhi, Aug 16 (KNN) Apparel Export Promotion Council (AEPC), Chairman Dr A Sakthivel has exuded confidence that India’s merchandise exports will reach 400 billion dollars this fiscal as envisaged by Prime Minister Narendra Modi.

"This is the first time in the history of India that after 74 years of Independence, our Prime Minister interacted with Export Promotion Councils, Commodity Boards along with Export Commissioners from States/ UTs, Industry Organisations, Indian Ambassadors/ High Commissioners and encouraged them to achieve the export target of 400 billion dollars," Dr Sakthivel said while addressing the members at 42nd Annual General Meeting (AGM) of AEPC on Saturday.

“The dynamic leadership provided by Narendra Modi’s government has bestowed a lot of courage within the exporting community, particularly the apparel exporters. We are confident that apparel exports will significantly contribute towards achieving the aspirational target of 400 billion dollars,” Dr Sakthivel said.

India’s apparel exports are picking up with mass vaccination against Covid-19 in every western market. Country’s exports during April-July 2021 recorded an increase of 91 per cent over the same period last year, he said addressing through video conference.

“Exports to our major markets are increasing. Exports to the USA increased by 22 per cent during January-May 2021 as compared to the same period of previous year. India’s exports to EU grew by 22 per cent during January-April 2021 as compared to the same period of previous year. Exports to other markets like the UK, Saudi Arabia, Canada, Japan, and Australia are also growing,” Dr Sakhtivel added.

Expressing gratitude towards Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, and Minister of Textiles, Commerce & Industry Piyush Goyal for extending the RoSCTL scheme till March 31, 2024, the Chairman said that the move ensures a stable and predictable policy regime and will boost exports by making Indian apparels globally competitive.

The Chairman also expressed his gratitude to Vice President of India M Venkaiah Naidu for inaugurating the Virtual Exhibition Platform of AEPC.

“The virtual platform, along with online B2B meetings has become a strategic turning point in the history of India’s Apparel Exports,” he said.

He appreciated the government for the announcement of Rs 1. 97 lakh crore Production Linked Incentive (PLI) scheme for 13 key sectors.

“This will increase investment, expand manufacturing capacities and enhance exports.