India - AEPC Seeks Duty-Free Yarn Import .

The Apparel Export Promotion Council (AEPC) has asked the Centre to allow duty-free import of yarn like cotton.

Observing that the recent increase in cotton and yarn prices have put additional burden on the industry, AEPC Chairman A. Sakthivel said in a statement: “Garment is a critical sector in terms of 11.22 million workers employed in this sector.’’

“I request the Government to allow duty-free import of yarn, as they have allowed for import of cotton for yarn manufacturers,” he said.

He further sought exemption from transaction tax and fix the export credit for ready-made garments at 7 per cent to remain competitive.

Stating that India’s apparel exports to the European Union and United States have recorded a shortfall by 14 per cent and two per cent, respectively, he said: “exports to non-traditional markets rose in 2012’’.

On India’s exports growing by 4.25 per cent and imports by 2.6 per cent in February, he said: “To keep the momentum going, it is important that the Government keeps the availability of credit to industry at a lower rate.’’


Source : yarnsandfibers.com