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Reflections

Is the Apparel Export Industry of India Really on the Verge of Vanishing?


My heading this time seems to be quite strong, however, it is nowhere as strong as needed to aptly describe the current situation of the Industry. While exports of all other countries are increasing, the garment export industry of India is slowing down. The revised rate of RoSL and duty drawbacks has affected most exporters and they fear closures and unemployment on a large scale if the same are not rectified.

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OPINION LIVE




Exporters have their expectations pinned on the Union Budget for more incentives to sustain growth momentum, a way out of the working capital woes stemming from the new GST regime and an improvement in infrastructural facilities. The Finance Ministry, however, will need to weigh a lot of factors such as maintaining fiscal prudence, conforming to multilateral obligations of curbing export subsidies and nudging State Governments to participate in infrastructure development for exports, while coming up with a fresh package for exporters. Is it, however, important to understand what exporters expect from the upcoming budget?

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