New Delhi, Jan 11 — A 12-member delegation from Bangladesh today met officials of the Apparel Export Promotion Council (AEPC) to explore the possibility of penetrating Indian domestic market.

The delegation included two members of Parliament and senior representatives of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Textile Mills Association (BTMA).

Mr Siddiqur Rahman, vice-president (finance) of the BGMEA, said Bangladeshi manufacturers are keen to corner 10 per cent share of India’s growing domestic apparel market. This will increase Bangladesh’s 10.9 billion dollar annual garment exports by another two billion dollars.

Quoting a survey by US-based multinational Wal-Mart, he said an average middle class Indian spends Rs 2,500 a year on clothes.

AEPC members and officials extended their willingness to help the Bangladesh garment industry in terms of technical education — especially with a facility exchange programme of Bangladesh Institute of Fashion Technology.

The visitors said Bangladesh requires India’s single count yarns and India needs Bangladesh support to meet the booming Indian retail sector. Also, Bangladesh is a competitive manufacturing base for textile and clothing, they added.

India has a good raw material supply and excellent design capabilities while Bangladesh has the advantage of cheap labour and is strong in knitwear.

In April 2008, India had issued a notification allowing duty-free import of eight million pieces of garments from Bangladesh. The Bangladesh delegation looked for deeper engagement than this concession, for which they called for neutralisation of the excise duties applicable to Bangladesh imports.

Replying to this, AEPC’s former chairman Rakesh Vaid said the move will further distort the level-playing field between domestic manufacturers who are subjected to similar excise duties and Bangladesh imports.

This is because of huge wage differential which already exists between garment factory workers of the two countries, he said.

Among those present in the meeting were AEPC’s senior vice-chairman Praveen Nayyar, secretary general Vimal Kirti Singh and deputy secretary general Vijay Mathur.

Indian textile and clothing markets accounts for 39 billion dollars which is expected to grow to 110 billion dollars by 2025. Of this, the clothing sector accounts for 27 billion dollars. Garments worth 11 billion dollars are exported from India each year.

The AEPC represents about 8,000 small, medium and large exporters.

SOURCE: http://www.aepcindia.com/admin/press-pdf/press%20release%20jan%2011.pdf

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SOURCE: http://texprocil.com/aura-herbal-textiles_texprocil.html

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New Delhi, Jan 7– Mr Premal Udani has taken over the new chairman of Apparel Export Promotion Council (AEPC).

He took charge from Mr Rakesh Vaid whose two-year term has ended successfully. Mr Vaid is now president of the Garment Exporters Association.

Mr Udani has been AEPC’s executive committee member since 1986. He has been part of the Clothing Manufacturers Association of India and the Federation of Hoisery Manufacturers Association for many years.

“AEPC has today become multi-functional and multi-dimensional,” he said after taking over as the new AEPC chairman. “Apart from our traditional markets of the United States and the European Union, the council is actively engaged in assisting exporters to diversify exports to markets like the ASEAN region, Latin America and East European countries.”

Mr Udani has presented several papers on textiles and clothing industry in national and international seminars. He has been on the committee of Indo-Italian Chamber of Commerce and Industry for the past five years and was part of the committee of Indian Merchant Chambers till 2006.

Mr Udani, chairman of the Mumbai-based Kaytee Corporation, has also been associated with Tirupur and is founding member of the India Knit Fair Association. He joined the family business of textiles and yarn trading after completing his masters in business administration in the United States during 1980.

AEPC’s executive committee also elected Mr Praveen Nayyar as vice-chairman of the eastern region, Mr H.K.L. Magu as vice-chairman of the northern region and Mr Rajendra Hinduja as vice-chairman of the southern region.

Mr Nayyar was elected as the senior vice-chairman. The council also elected Mr Ashok Rajani as chairman of the export promotion sub-committee and Mr Nayyar as chairman of the finance and budget sub-committee.

The AEPC is a body of 8,000 small, medium and large garment exporters. Apart from its core activity of export promotion and assisting the government in complex trade negotiations, the council is involved in training of workers and management students through its Apparel Training and Design Centres and initiatives of the Institute of Apparel Management.

In the near future, the AEPC plans to launch initiatives to improve productivity of factories and also impart guidance in matter of compliance.

India exports apparel worth 11 billion dollars annually and ranks as the fifth largest worldwide.

Source: http://www.aepcindia.com/admin/press-pdf/jan7press%20release[1].pdf

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Mr A. Sakthivel, President, Federation of Indian Export Organisations (FIEO) while anticipating announcements in the third quarter review of the Monetary Policy on 29thJanuary, 2010 stated that with food inflation at 19.83% a fiscal deficit up by 73% a current account deficit for the second quarter ended Sept’09 at a flat $ 12.6 billion and a subdued credit growth at 11.5% as against 24% in the previous year are pointers to hardening of interest rates by a phased increase in policy rates and CRR over the next 6-8 months.

The FIEO Chief explained that Banks have disbursed Rs 1,65,744 crore between April 2009 and the middle of December, much less than the Rs 2,81,820 crore in same period of 2008 and the increase in policy rates, if any ,may not help in reducing inflation (which is supply side) and the high liquidity in the system due to the absence of credit off take does not justify any increase in the policy rates or CRR which would result in the hardening of interest rates which in turn may further impact credit off take.

Mr Sakthivel stated that in such a scenario of hardening interest rates, volatile rupee dollar movements, and a recession hit global market, the cost component is a sensitive element which needs to be looked at more closely. At this point, there must be a continuation of the stimulus package and the need than never before to cut down transaction cost. It would be imperative at this juncture for the High Power Transaction Cost Committee to consider partial reimbursement of the high transaction costs borne by the MSME export sector which will not only be adversely affected by hardening interest rates, appreciating Rupee due to capital inflows, shrinking developed markets and the additional marketing costs that may be required to be borne to tap alternative markets as per the recent trade agreements.

Source: http://fieo.org/view_Press_Releases_detail.php?lang=0&id=0,21&dcd=467&did=1262769281i6rlqcf0jllkqusajp5ennkre6

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Mr A. Sakthivel, President, Federation of Indian Export Organisations (FIEO), is happy over the 18.2 % positive growth for the month of November, 2009. Exports during November 2009 were valued at US $ 13,199 million, as against US $ 11,163 million in the corresponding month in 2008. This is a clear indication of the adaptability of exporters, and, of course, the positive impact of the stimulus extended by the Government. FIEO Chief hopes that the Government will continue with the stimulus, particularly subvention of the interest rates for exports as interest rates are set to move upward. President, FIEO expects exports to touch between 165 – 170 billion dollars by the end of this fiscal.

President, FIEO hopes that 2010 will be a better year for the exporters, as compared to 2009, and he extends his wishes for a prosperous year ahead to the entire fraternity.

Source: http://fieo.org/view_Press_Releases_detail.php?lang=0&id=0,21&dcd=463&did=126234318418d4779j6h7l0aro9e2nps48j0

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