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Apparel export bodies predict a double digit growth in exports once the refund issues are settled

The apparel industry can achieve a double digit growth in Exports if the GST and RoSL refunds issues are smoothened by government departments Mr HKL Madu Chairman AEPC said in statement after the Economic survey for 2017-18 was presented in the Lok sabha by finance minister Arun Jaitley on January 29th.

 In a statement issued after the survey was presented he said the survey has rightfully pointed out that the Rs six thousand crore package announced by the government in June 2016 has addressed the constraints faced by apparel firms to a large extent. The rebate on state levies (ROSL) has increased by exports of readymade garments by sixteen per cent. The full benefit of the package is yet to be realized since the refund issue needs to be sorted out

 He said the “Economic Survey has predicted 7-7.5 percent growth in 2018-19 with exports and private investment set to rebound. The survey suggests an improvement in demand and investment, which should augur well for the economy as a whole, and the apparel sector specifically.

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