The Apparel Export Promotion Council (AEPC) has welcomed the Reserve Bank of India’s (RBI) announcements on Friday.
“The RBI’s decisions will enhance export competitiveness,” the Council chairman A. Sakthivel said in a press release.
The decision to retain repo rate at 4 %, bank rate at 4.25 % and reverse repo at 3.35 %, and steps taken to maintain the inflation at the tolerance band of 4 per cent will help investors, Mr. Sakthivel said.
“The improvement in capacity utilisation in the manufacturing sector and flow of financial resources to the commercial sector will strengthen the efforts of the industry to bring back normalcy in manufacturing and exports,” Mr. Sakthivel added.
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