Apparel exporters should start manufacturing PPE kits to meet global demand: AEPC
Covid-19-impacted Indian apparel exporters should diversify revenue sources by producing Personal Protective Equipment (PPE) to meet global demand.
Covid-19-impacted Indian apparel exporters should diversify revenue sources by producing Personal Protective Equipment (PPE) to meet global demand, said Apparel Export Promotion Council (AEPC).
Accordingly, AEPC organised a webinar to promote the idea. This webinar was attended by about 2,000 participants mainly apparel exporters from across the country.
"We find that there will be a domestic demand of Rs 10,000 crore for the next one year and internationally there will be a $60 billion business in 2025 whereas India has done only $260 million so far last year, a study says," AEPC Chairman A. Sakthivel said while addressing the webinar.
Though many of PPE products needed for frontline health workers are banned for exports currently, he said that once the local manufacturers satisfy the Indian demand, they should be allowed to export in the foreign markets and for this AEPC has already submitted a request with the government.
"I believe all the apparel manufacturers can enter into the cover all garments provided they have a seam sealing machine. That's the machine we need for our factories. We will have to import this machine if we want to go for PPE kits," he said.
Besides the webinar, AEPC intends to have a separate cell for PPE kits as it aims to provide sufficient kits domestically to prevent further imports.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Mukhyamantri Majhi Ladki Bahin Yojana: Know eligibility, benefits, and documents to apply for this women-centric government scheme
Gratuity Calculator: Rs 37,000 as last-drawn salary; 6 years and 3 months as service period; know your gratuity?
Top 7 Gold ETFs With Highest Annualised Returns in 10 Years: Know how Rs 10 lakh investment in each ETF has performed in last decade
Defence PSU Stock to BUY: This multibagger scrip corrects 49% from 52-week high - Is this right time to buy?
11:56 AM IST