The Rs 6,000 crore special package announced in 2016 for textiles and apparel sector was a step in the right direction, as per the findings of an Apparel Export Promotion Council survey conducted to gauge the impact of the Special Package on country’s textile exports. The Special Package for textiles has not only boosted Country’s textile exports but has also helped in increasing the investment.
As per the AEPC survey, the Special Package had generated additional investment of around Rs. 2500 cr. and additional employment of around a lakh in the first twelve months of the roll out.
The findings of the AEPC survey suggests that the package had a positive impact on garment industry. After its implementation in September, 2016, India’s Ready Made Garment exports has increased by 2.7 per cent in value terms and grown by 6.4 per cent in volume terms.
There is direct correlation between release of the package to exporters vis-a-vis increase of India’s Ready Made Garment exports like in month of announcement & implementation of the package in August – 2016 +3.9. September & October, 2016 – +12.9 per cent +10.97 per cent respectively.
Commenting on the findings of the AEPC survey, Mr. HKL Magu, Chairman, Apparel Export Promotion Council (AEPC) said,” the package has been a well thought out scheme, which had a positive impact on garment industry. There is direct correlation between release of funds to exporters vis-a-vis increase of India’s RMG exports.”