AEPC CELEBRATES 40TH YEAR AMITHABH KANT, CEO, GRACES OCCASION
Amithabh Kant, CEO, Graces Occasion
The 40th year of Apparel Export Promotion Council (AEPC) was celebrated at AEPC Head office in Gurgaon with Amitabh Kant CEO, NITI Aayog presiding as the chief guest for the event and delivered the foundation day speech highlighting the importance of Indian apparel sector as a pivot for higher value addition and employment generation with very low capital investment. Born in 1978 as a quota monitoring entity, AEPC today is one of the largest councils of the country. It is recognised worldwide as a powerful body for the promotion and facilitation of garment manufacturing and export from India. Built as a sponsored body under the Ministry of Textiles, it boasts of a strong membership base that exceeds 8300 members.
Amitabh Kant CEO, NITI Aayog said, “China has started moving out of the apparel sector and there is a huge opportunity for India. Today the wages in China are 2-3 times that of India and given the aging population of China, the cost of apparel manufacturing will continue to rise there. In such a scenario, the global suppliers will start looking at other avenues for sourcing.” He mentioned that countries like Bangladesh and Vietnam are having preferential access in European markets and hence it is extremely important that we get the FTA with Europe ratified at the earliest.
He shared that currency fluctuation is also one of the issues being faced by the apparel industry and RBI and FM can examine and see how currency can be pushed for exports. He expressed that as far as Indian apparel exports are concerned, India is heavily reliant on cotton and thus the industry needs to see how we can move to man-made fibres which can help us to garner more global share. “There has been a reduction in the benefits of the Industry post GST roll out and we are looking at ways through which we could bring it at par with the rates prevalent in the previous regime,” he averred. “For the benefit of the Industry central and state levies should be refunded and Government will work with the industry to resolve this issue,” added Kant.
He has also mentioned that at the immediate phase to create positive signs it is important to resolve the issues viz. blocked taxes and refund of GST, and exchange rate related concerns to bring back the apparel export and manufacturing sector in a growth path from consistent decline trends.
Speaking on the occasion HKL Magu, Chairman, AEPC said, “AEPC’S well-timed initiatives and confidence to take calculated risks, braving all odds, perceptible across all circumstances, is the key fuel for the India’s apparel export growth. At the UP Investor’s summit we have signed a MOU with UP Government to construct an apparel city in 200 acres on
Yamuna Expressway. With AEPC’S capability and initiatives, and continued understanding and support of the Government, India’s apparel exports are sure to grow from strength to strength while providing international buyers with most superior solutions in fashion and apparel”.
Closing remarks and vote of thanks was given by Sudhir Sekhri, Chairman, Export Promotion,
AEPC who thanked Amitabh Kant for his support and encouragement to the apparel industry. “The industry is a source of employment for millions of men, women and children directly or indirectly associated with us and will die a slow death of if the Government would not support it,” said Sekhri. The event was attended by many apparel exporters like Vijay Aggarwal, from Creative Garments, Animesh Saxena from Neetee Clothing, Narendra Goenka from Texport Syndicate, Premal Udani and several others.
HKL Magu Chairman welcomes Amitabh Kant, CEO, NITI Aayog
Amitabh Kant lighting lamps at the ceremony
Countries like Bangladesh and Vietnam are having preferential access in European markets and hence it is extremely important that we get the FTA with Europe ratified at the earliest. amitabh Kant ceo, niti aayog