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India:Clothing exports target of 40% too farfetched, say industry players |
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2005-7-28
Targetted growth of 40 percent for clothing exports is beyond reach, say leading Indian industry players.
Reasoning out on the issues, President of the Clothing Manufacturers Association of India (CMAI), Premal Udani stated that the anticipated growth rate is impossible due to poor labour conditions and existing tax structure. A 25-30 percent growth rate is reasonable, he adds.
Udani informed that the CMAI head welcomed FDI in the retail sector as it would support overall competitiveness and cater wider selection range of the buyers. The booming retail sector of the country would prove a catalyst to the growth of the local industry.
Meanwhile, the CMAI announced the conduct of Apparel Machinery Exposition 2006 (AME 2006) to be held in New Delhi during January 5 - 7, 2006. The expo spread over 20,000 square meters will have over 200 stalls and more than 20,000 visitors are expected to visit it. The expo will possibly be the largest-ever apparel technology trade exposition.
Entire world is witnessing the emergence of India as the second largest clothing player of the world. CMAI feels that it is time to offer a technology platform to the industry and AME 2006 an effort in that direction, Udani explained.
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