Apparel Export Promotion Council (AEPC) has requested for an extension of the Interest subvention scheme beyond March 31, 2020. It has also requested for the extension of 5 per cent available to the MSMEs to all units, especially in a labor intensive sector like the Apparel export industry.

Besides, the AEPC has also asked the Minister of Labor and Employment to extend the Provident Fund, ESI and other related benefits for workers of small establishments to apparel workers as well. The Council requested the government to provide relief in terms of our obligation towards the workers by way of contributing wages/salaries for six weeks. The industry should also be allowed to defer payment of PF/ ESI and electricity charges by a period of three months.

In addition, the Finance Minister has been urged that the benefits that are due to the apparel exporters in terms of RoSCTL and GST should be released at the earliest. AEPC welcomed the 75 basis points cut in repo rate by the RBI, considering the impact of Covid-19 related lockdowns on economic activities.

The council hopes that the cut in the repo rate to 4.4 per cent would translate into lower lending rates for both retail and corporate credit, and would thus encourage consumption and investment.