Dr. A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC), met Shri Sanjay Malhotra, Governor of the Reserve Bank of India, along with senior RBI officials in Mumbai on 16 February 2026 to discuss key issues concerning apparel exporters, particularly MSMEs.
During the meeting, he advocated for a dedicated export policy tailored specifically for the MSME sector and proposed the introduction of a Special Interest Package Scheme to support their growth and competitiveness. Highlighting the significance of the engagement.
Dr. Sakthivel,Chairman, Apparel Export Promotion Council , noted that India has signed FTAs with 37 countries, creating unprecedented opportunities for the textile and apparel sector.
He emphasised that the coming decade presents a strategic window to leverage India’s inherent strengths and accelerate export growth.
In his representation, he pointed out that a large number of apparel exporters — predominantly MSMEs — continue to face operational and regulatory challenges, especially in their interactions with banks, export finance systems, and compliance frameworks.
To address export finance constraints, the AEPC Chairman requested an increase in the Interest Equalisation Scheme from the existing 2.75% to 5% for manufacturing exporters. He also urged the RBI to consider removing the current cap of ₹50 lakh and to enhance eligibility limits under the scheme in a graded manner based on turnover and export performance.
Dr. Sakthivel submitted a detailed representation outlining these recommendations and other policy suggestions for the RBI’s consideration.
