Apparel April-Sept exports up 2-3%, says minister

Apparel April-Sept exports up 2-3%, says minister

Kolkata: India’s apparel exports have grown 2-3% in April-Sept compared to the same period last year, the textiles minister said on Wednesday.

“We are seeing positive trends in exports, particularly in markets like Europe and US," Dayanidhi Maran told reporters during a press conference.

Maran also said he was in favour of raising the minimum support price for jute.

“We got some suggestions from an industry body to increase the minimum support price (MSP) for jute by Rs300 per quintal and we support it," he added.

MSP for jute is currently at Rs1,375 per quintal.

Government has increased the MSP of jute by more than 50% during the last five years and would continue to do so to cover the risk of fluctuation in jute prices, he added.

He said the government had sanctioned seven Jute Parks to develop diversified jute products, but the scheme has not taken off as expected due to land transfer issues.

“Government has provided Rs60 crore for developing 15 jute parks across the country in next two years," he said.

Regarding the proposed National Fibre Policy, he said it would alter the tax and duty structure of man-made fibres (MMF).

“The duty structure, particularly in the MMF should be brought down so that it can be competitive in the global market," Maran said.

Currently various sub-committees across the industry have been set up to submit their feedback to the ministry, he said, adding the final policy would be ready by the end of this financial year.