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The Special Package for textiles boosts exports and investments: an Apparel Export Promotion Council survey

The Rs 6,000 crore special package announced in 2016 for textiles and apparel sector was a step in the right direction, as per the findings of an Apparel Export Promotion Council survey conducted to gauge the impact of the Special Package on country’s textile exports.  The Special Package for textiles has not only boosted   country’s textile exports but has also helped in increasing the investment.

As per the AEPC survey, the Special Package had generated additional investment of around  Rs. 2500 cr. and additional employment of around a lakh in the first twelve months of the roll out.  
 
The findings of the AEPC survey suggests that the package had a positive impact on garment industry. After its implementation in September, 2016, India’s Ready Made Garment exports has increased by 2.7 per cent in value terms and grown by 6.4 per cent in volume terms. 

 

There is direct correlation between release of the package to exporters vis-a-vis increase of India's Ready Made Garment  exports like in month of announcement & implementation of  the package in August - 2016 - +3.9. September & October, 2016 - +12.9 per cent +10.97 per cent.
 
Commenting on the findings of the AEPC survey, Mr. HKL Magu, Chairman, Apparel Export Promotion Council (AEPC) said," the package has been a well thought out scheme, which had a positive impact on garment industry. There is direct correlation between release of funds to exporters vis-a-vis increase of India's RMG exports.

 

Though Demonetization and GST roll out has temporarily slowed down the industry, the positive impact of the package is expected to bring results in 2018-19, as the industry settles down, post GST roll out. AEPC would like to thank the Ministry of Textiles for looking into embedded/blocked central and state taxes after the implementation of GST, while considering the new drawback rates. "

 

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