A Sakthivel has takenover as the new Chairmanof Apparel Export Promotion Council (AEPC). Sakthivel has assumed this position for the third time, AEPC said in a release issued to the media. Earlier, he served as the Chairman during 1998 and the 2004-05. He is also the President of Tirupur Exporters' Association since its inception.
After being appointed the Chairman of AEPC, he spoke to the media on various issues related to the India apparel industry. While commenting on the apparel manufacturers setting up base in Bangladesh, Sakthivel said that some of the textile companies, especially from Kolkata, have already started setting up units in Bangladesh to take advantage of duty concessions, cheap labour and other low overhead costs. Overall, it will be at least 20 per cent cheaper to import duty-free from Bangladesh and sell it in India. Besides, textile exports from the country also enjoy certain concessions in developed countries.
Talking about AEPC’s expectation from the forthcoming budget, he added that the Council is in the process of listing out its demand and it will take up the issue of 10 per cent excise duty on branded garments and stress the need for some concession on interest rate.