Companies

AEPC set to export non-medical and non-surgical masks worth $1 billion

Prashasti Awasthi Mumbai | Updated on May 17, 2020

Apparel Export Promotion Council (AEPC) on Saturday said that it will export non-medical and non-surgical masks worth $1 billion in the next three months as the Centre lifted restrictions on shipments of these products, as per media reports.

Directorate General of Foreign Trade (DGFT) has amended the export policy to allow the export of non-medical and non-surgical masks of all kinds including cotton, silk, wool, and knitted ones.

AEPC said the decision will further encourage the production of masks in the country. “There is a huge opportunity for Indian Apparel manufacturers for export of such masks," AEPC Chairman A Sakthivel said.

Sakthival added that there is a huge demand for the export of these products and the council has already identified the international markets for these non-medical and non-surgical masks.

"The Council assures the government that it will ensure exports of these items to the tune of USD of USD 1 billion within the next three months," Sakthivel further said.

Earlier in April, exporters of readymade garments from India had sought a two-year extension of the interest equalization scheme that had expired in March and enhancement of the rate of subsidy on the interest rate to 5 per cent from the existing 3 per cent.

In a letter written by Sakthivel to Commerce & Industry Minister Piyush Goyal, he had mentioned, “Given the extremely volatile and uncertain cash flow situation of the apparel exporters, we request you to kindly announce continuity of the interest subvention (equalization) scheme which expired on March 31 2020.”

Published on May 17, 2020

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