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
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.
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. "