: AEPC lauds creation of dedicated Export Promotion Council for Technical textiles #FinanceIndia #StockMarketNEWS AEPC lauds creation of dedicated Export Promotion Council for Technical textiles New

@StockMarketNEWS Wed 02 Dec, 2020

Posted in: #FinanceIndia #StockMarketNEWS

AEPC lauds creation of dedicated Export Promotion Council for Technical textiles #FinanceIndia #StockMarketNEWS
AEPC lauds creation of dedicated Export Promotion Council for Technical textiles New Delhi, Dec 2 (KNN) Apparel Export Promotion Council (AEPC) has welcomed the governments decision to form a dedicated Export Promotion Council (EPC) for Technical Textiles. AEPC stated “it will boost exports and strengthen the domestic manufacturing capacity in this sunrise sector.”

"The decision of formation of a dedicated EPC for Technical Textiles is an extremely important step and we welcome this move. The industry is hopeful of a manifold growth in this high potential sector," Dr Sakthivel, AEPC chairman wrote to Honble Minister of Textiles Smriti Zubin Irani, after the ministry issued a notification on the same.

The Chairman thanked the Honble Minister for standing shoulder to shoulder with the apparel industry during these trying times and helping it post a growth in the last two months by finding opportunities and facilitating businesses despite global downturn.

Dr Sakthivel said "The best example of this has been your proactive role in writing the Personal Protective Equipment (PPE) story in India. From nearly nonexistent domestic production, the capacity and production of PPE coveralls touched five lakh per day in May 2020 and the growth has continued with the opening up of the export market for the PPEs.”

"Of the 207 items notified as technical textiles in January 2019, there are 12 products of apparel. The global market for these 12 products is estimated to be billion, though Indias exports is only million. This indicates a huge potential in these products if dedicated export promotion activities are undertaken for these products," he said.

Assuring the Councils contribution towards the vision of achieving value added growth through such emerging apparel products, Dr Sakthivel added, "I am confident that with the formation of a dedicated EPC and inclusion of technical textiles in the Production Linked Incentive (PLI) scheme, the sector will witness overall growth – in investment, capacity building and exports."

Stock Market News & Best Intraday tips & Stocks near support

Report