AEPC asks govt to reduce customs duty on manmade fibre

Early implementation of India-EU free trade agreement would help bosst the sector's exports

Apex apparel body AEPC today asked the government to reduce customs duty on manmade fibre and cotton fabrics to boost the garment export of the country.

Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said that the move would help in doubling exports to $30 billion in the next three years.

"In this regard, we have submitted a proposal for reducing the custom duty at a flat rate of 5 per cent  on selected speciality manmade fibre and cotton fabrics," Sakthivel said in a statement here.

The speciality fabric is not widely available in India, "therefore we are urging the government to reduce duties on this".

He also said that the early implementation of the India-EU free trade agreement would help in boosting the sector's exports.

India and the 27-nation bloc are negotiating the pact since June 2007.

"The industry is waiting this to happen so that new opportunities may be captured by us," he added.

Sakthivel also demanded for adequate availability of credit at affordable rates.

Recently, AEPC has organised an Export Excellence Award and Lifetime Achievement Award here.