Dr. A Sakthivel Chairman, The Apparel Export Promotion Council (AEPC), an apex council under the Ministry of Textiles, on behalf of the entire Textiles Industry has welcomed the Government move to allow FDI in multi-brand retail. In his statement made today, Dr. Sakthivel stated that, "It will give the much needed fillip to the entire Textiles Industry. Employment opportunity will be created in plenty.
"There will be increasing of the manufacturing activity and rise in the demand of cotton products and yarn. Even the domestic demand is going to pick up. Availability of capital flow will improve many folds. Better infrastructure would be created at back and front end of the business value chain. Farmers will get better price of the produce as well as consumer will derive value for their money.
"Even it will lead to easing of inflation in the country and small and medium enterprises will also benefit out of this policy change. Gradually GDP will pick up and economic outlook will improve."
Chairman AEPC in his letter congratulated the Minister for Commerce, Industry and Textiles, Shri Anand Sharma. He stated that, "We confirm our sincere pleasure and support your note worthy effort. This historic decision is going to be beneficial to domestic textile and garment export industry in a big manner and also would encourage overseas big retailers to source from India."
