COIMBATORE, JAN 29- (PTI)
The Apparel Export Promotion Council (AEPC) has asked for reduction in customs duty to flat five per cent on certain cotton fabric varieties on a pilot basis with certain conditions. If implemented, this would help in enhancing 100 per cent garment exports in three years from USD 13.69 million to USD 30 million, AEPC Chairman A Shaktivel said in a pre-Budget memorandum submitted to Finance Minister P Chidambaram.
The proposal envisages improvement in cut to ship ratio in synthetic/blended/speciality cotton fabrics and reduction in the lead time taken in exports from 60-70 days to 35-40 days, he said. Non-availability of these fabrics and speciality fabrics of cotton has been considered the single most important issue augmenting export of garments. Such fabrics are not widely produced in India currently, he said.
With implementation of the scheme, more domestic fabric manufacturers would come forward and start production of such fabrics, Shaktivel added. (Source: Tecoya Trend)