AEPC seeks govt help for survival
The Apparel Export Promotion Council (AEPC), the apex body of apparel exporters, has signalled once again that it is pitching for government support during troubled times by naming an IAS officer as its new secretary-general.
By TNN |
BANGALORE: The Apparel Export Promotion Council (AEPC), the apex body of apparel exporters, has signalled once again that it is pitching for government support during troubled times by naming an IAS officer as its new secretary-general.
Vimal Kirti Singh, from the Bihar cadre, will hold the post ��� equivalent to the joint secretary ���for two years. Earlier he was a director at the Union ministry of consumer affairs, food and public distribution. This is the second time that AEPC has roped in an IAS appointee; the previous secretarygeneral was KK Jalan from the Haryana cadre.
���This appointment comes at a crucial time when the industry is at cross-roads. We have had good support for the exporting community from our earlier secretary-general and this should continue,��� said an exporter, requesting anonymity.
Although India is a major player in the global textile and apparel business, the sector���s fortunes have witnessed a reversal during the last 12-18 months, mostly because of a slowdown in the US and the sudden and unexpected appreciation of the Indian rupee against the dollar.
The rupee has risen against the dollar by over 11% during the last year while the currencies of major competitors in the Asia-Pacific region have not seen a matching increase, thus hurting India���s competitiveness. ���Things look a bit positive for the next two to three months, with the rupee dipping below the Rs 42 mark against the dollar. But if dollar inflows strengthen the rupee, a level of Rs 40-40.5 can���t be ruled out. Apparel exporters are getting prepared for a stronger rupee,��� an industry source said.
Vimal Kirti Singh, from the Bihar cadre, will hold the post ��� equivalent to the joint secretary ���for two years. Earlier he was a director at the Union ministry of consumer affairs, food and public distribution. This is the second time that AEPC has roped in an IAS appointee; the previous secretarygeneral was KK Jalan from the Haryana cadre.
���This appointment comes at a crucial time when the industry is at cross-roads. We have had good support for the exporting community from our earlier secretary-general and this should continue,��� said an exporter, requesting anonymity.
Although India is a major player in the global textile and apparel business, the sector���s fortunes have witnessed a reversal during the last 12-18 months, mostly because of a slowdown in the US and the sudden and unexpected appreciation of the Indian rupee against the dollar.
The rupee has risen against the dollar by over 11% during the last year while the currencies of major competitors in the Asia-Pacific region have not seen a matching increase, thus hurting India���s competitiveness. ���Things look a bit positive for the next two to three months, with the rupee dipping below the Rs 42 mark against the dollar. But if dollar inflows strengthen the rupee, a level of Rs 40-40.5 can���t be ruled out. Apparel exporters are getting prepared for a stronger rupee,��� an industry source said.
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