Page 2 - Apparel Exports

Covid impact: Domestic retailers to see 40% revenue fall, predicts Icra

Indian apparel exporters are likely to see a decline of 20-25% in their turnover in 2020-21, while those focused on domestic market are expected to witness a 30-40% decline in revenue due to Covid-19

Apparel body says removal of export curb on N-95 masks to help boost sector

The government removed export curbs on N-95 masks, which are in demand due to Covid-19 pandemic, with a view to promoting outbound shipments of the product

Satyender Jain tests negative for Covid-19; discharged from hospital

The 55-year-old minister was shifted to the ICU of Max Hospital, Saket, on June 19 after his condition worsened

Apparel manufacturers seek faster clearance of consignments from China

Apparel industry is dependent on several inputs, which are not available domestically or have to be imported in accordance with buyers' requirements

Covid-19: Apparel exporters seeks stimulus package covering wages, credit

Wants wages to be paid out of ESI funds, govt to make employer's PF contribution; seek minimum 25% hike in working capital limits, without additional collateral

Top biz headlines: GoAir stops int'l ops, exporters seek govt aid, and more

From GoAir suspending international flights to digital payments getting the boost amidst Covid-19 concerns, Business standard brings to you the top headlines of the day

Desperate apparel exporters seek govt intervention amid coronavirus scare

Low levels of working capital as a result of major cancellations of orders and a fall in export realisations have led to apparel exporters seeking government intervention

Top 10 products that can boost India's apparel exports: AEPC compiles list

Sakthivel sought the government's support in engaging the Indian missions to promote the shipments.

Apparel exporters facing liquidity crunch as funds are blocked: FIEO

The RSCTL scheme was not implemented in the entire 2019 and MEIS also stopped from August last year for apparel and made-ups sectors, FIEO President Sharad Kumar Saraf said in a statement

Coronavirus: Spurt in fertiliser import costs seen due to plant closure

Exporters not to worried for now, say concerns may kick in only if virus spread isn't controlled; leather sector stand to gain.

Govt revises drawback schedule for apparel sector; exporters want more FTAs

The notification on revision of drawback schedule will come into effect from February 4, 2020

Review withdrawal of MEIS, reinstate benefits: Apparel export body to govt

As the industry has already taken benefits of RoSCTL and MEIS into account in costing and tax-planning, Sakthivel said, withdrawal of any of these benefits will affect their working capital

India's apparel exports to US rise 5% post withdrawal of duty concessions

"Balance of apparel trade was in favour of India by $4 billion during 2018. Post-withdrawal of GSP, imports of apparel will be subject to higher tariff."

Apparel industry expects uptick in exports in last two quarters

Apparel exports to the largest market US showed a steep decline of 13 per cent in April-August 2019 as compared to that in April-August 2018

Free trade agreements, EU slowdown threaten Indian apparel exports: Icra

The impact though, is expected to be cushioned by the transitory increase in export incentives till December 2019

India's apparel exports to see modest growth in near term, says report

The exports have seen a sharp de-growth of 14 per cent year-on-year in the first four months of this financial year

India's apparel exports decline by nearly 4% in year of GST

Backed by its duty-free access to the EU market, Bangladesh retains its status as the second-largest apparel exporter after China

Apparel exports gain over domestic sales in Sept quarter

Apparel exporters gained over others in the segment during the September quarter results, the second one (Q2) of this financial year.For instance, KPR Mill, Kitex Garments and Gokaldas Exports, for which external shipment are the bulk of business, has revenue or profit either improving or steady over both the June quarter (Q1), which was just before the goods and services tax (GST) rollout, as well as Q2 a year before. Fabric and garment maker Raymond showed profit of Rs 62 crore as against a net loss of Rs 7 crore in the pre-GST quarter of April-June. However, Page Industries and Arvind Ltd, whose garmenting business is equally focused on the domestic market, saw the impact of GST rollout of 28 per cent on branded apparel, with their Q2 bottom line declining over Q1 this year.According to analysts, there was slightly reduced domestic demand in the month after GST rollout, despite a slight uptick in export sales. Wazir Advisors, a consultancy, says sales for exporters had increased ..

Apparel exporters meet PMO to voice concerns over GST

Amidst worry about the GST, the representatives of Apparel exporters have met officials at the Prime Minister's Office (PMO). The exporters have insisted to extend the rebate of state levies (ROSL) and duty draw back till issues relates to GST sorts out, failing which the industry will lead to close down.Ashok G Rajani, chairman, Apparel Export Promotion Council (AEPC) confirmed the development and said during the 25 minutes meeting they have told the PMO officials that there are many taxes which hidden and invisible and are not subsumed by the GST.From PMO the meeting was attended by PK Mishra, Additional Principal Secretary at the Prime Minister Office (PMO) and Revenue Secretary Hasmukh Adhia.Today's meeting comes after exports of ready-made garments fell by nearly 41 per cent in October."Trade is going through a major crisis. We need the government to extend the duty drawback and ROSL till March 31, 2018. In the meantime we have told them that We must get refund of that also," ...

GST, stronger rupee may result in flat Indian apparel exports growth: AEPC

India has reported a marginal five per cent growth in apparel exports worth $6.9 billion for 5%