Thursday, Oct 07, 2004
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By Our Staff Reporter
TIRUPUR, OCT. 6. Export of readymade garments from the country during January-August 2004 has gone up in terms of value and quantity compared to the corresponding period last year.
Inaugurating the 19th edition of the India Knit Fair (Autumn/Winter, Mid-Summer Collection 2005) here today, the Secretary, Union Ministry of Textiles, Wajahat Habibullah, said the export statistics report of readymade garments indicated that the unit value realisation was ``steadily found increasing.'' During January-August 2003, 9,091 lakh pieces of readymade garments (valued at Rs. 16,505 crores) were exported and during the same period this year, it had gone up to 9,332 lakh pieces (valued at Rs. 17,355 crores).
Thus, the increase this year was 2.65 per cent in terms of quantity and 5.15 per cent in terms of value. ``The comparative analysis of direct exports of knitted garments from Tirupur both in terms of quantity and value during January-August 2004 when compared with the same period last year is showing a remarkable growth.''
According to the latest feedback, after the phasing out of quota restrictions on readymade garments, India would benefit by way of greater access in the current quota markets as more competitive manufacturing units were coming up in the country and were adapting to the concept of latest state-of-art machinery induction in manufacturing.
The industry was likely to attract an additional investment of Rs. 60,000 crores during the next two years. This would generate more job opportunities.
Mr. Habibullah pointed out that the increasing use of modern technology created avenues to improve the technical skills for the existing workforce and for further recruitment in the industry. To bridge this gap, the Apparel Export Promotion Council (AEPC) had decided to open nine more Apparel Training and Design Centres across the country.
He suggested that the industry go in for sizable investments to garner global opportunities in the post-quota period.
Responding to an appeal by the chairman of the India Knit Fair Association, A. Sakthivel, not to reduce the duty drawback rate, the Secretary said there was no proposal to bring down the rate.
He told presspersons later that the allocation for the Technology Upgradation Fund Scheme for 2004-2005 was Rs. 340 crores and till August 31, 2004, Rs. 174 crores had been disbursed.
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