Financial Daily from THE HINDU group of publications
Thursday, Jan 24, 2002
Financial Daily from THE HINDU group of publications Thursday, Jan 24, 2002 |
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Industry & Economy
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Textiles AEPC seeks addl quota release Our Bureau
COIMBATORE, Jan.23 THE Apparel Export Promotion Council (AEPC) wants the Textile Ministry to release additional export quota under the `first-come-first-served' (FCFS) category yet again next month to enable garment exporters to meet their export commitment. AEPC has written to the Union Textile Ministry seeking release in advance of the quota to the extent of 10 per cent of the annual export entitlement under the FCFS route by February 10, so that "exporters having ready market are not stranded for want of quotas", the AEPC Chairman, Mr Virender Uppal, has said. Mr Uppalsaid the release of additional FCFS quantities for various garment items were requisitioned in the backdrop of exporters not being able to fully service their export orders for want of quota and the consequent rise in quota premiums. He pointed out that quite a few of the garment categories attracted cut-off price when the FCFS quota was opened early this month. This gave rise to the quota premium for the respective category of exports. Unlike last year when almost all categories attracted cut-off prices, not many items, especially those for the US and Canadian exports this year attracted cut-off prices. Wherever there were cut-off prices this time, these were less than the cut-off prices that prevailed last year. This had indicated that the business conditions in the US, EU and Canada continued to remain still sluggish. Yet, Mr Uppal felt that considering the declining textile/clothing exports from India, the garment exporters had to take advantage of wherever the market potential existed and they should not be deterred by issues such as quota inadequacy. The Government released FCFS quota last year too in February and the AEPC Chairman said that it could similarly release additional quantity next month so that it would keep the quota premium momentum in check.
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