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‘India has the potential to be the apparel hub of the world’: Rahul Mehta

"Garment industry is one of the leading exporters in India. It is also the most labour intensive, and an industry which is supporting the government’s main objectives of increasing employment in the country. It is also the fifth largest exporter in the world of garments. “We are the leading exporters of textiles. After a few years of static export growth, we are seeing between 15-18 per cent growth between April and June,” said Rahul Mehta, President, CMAI, during a recent media interaction."

 

 

India has the potential to be the apparel hub of the world Rahul Mehta

 

Garment industry is one of the leading exporters in India. It is also the most labour intensive, and an industry which is supporting the government’s main objectives of increasing employment in the country. It is also the fifth largest exporter in the world of garments. “We are the leading exporters of textiles. After a few years of static export growth, we are seeing between 15-18 per cent growth between April and June,” said Rahul Mehta, President, CMAI, during a recent media interaction.

GST impact

Mehta feels there will be a little blip due to GST and therefore, duty drawback rates will be impacted. But as of now the government has announced up to September 30, exporters will be permitted to continue their business as per old norms and that will see a certain amount of stability. He says, the government will have to take into account a plethora of embedded taxes, which are still not covered under the GST and therefore ensure that the adequate duty drawback support is given to the industry to continue its growth in exports. Mehta highlights that the industry has taken certain steps in terms of opening new markets and owing to all these factors the scenario looks promising for the industry.

Apparel export growth

India has the potential to be the apparel hub of the world Rahul Mehta

 

As per Mehta, last year apparel exports were to the tune of $17 billion and this year growth is expected to be between 17-20 per cent from April to March 2017- 2018. Welcoming GST, he says our industry has by and large welcome the GST. There are a few issues that are still pending, which we are talking to the government about and in the long run this will have a positive impact on the industry, but specifically from exports point of the view, the government will have to take into account embedded taxes and they will still have to support the industry with a certain amount of duty drawback and along with a fair and smooth execution of the GST, “we are on a good wicket,” remarks Mehta.

 
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