• Linkdin

Extended interest subvention to aid textiles exports: FIEO

29 May '13
2 min read

Mr. M Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO) while commenting on the expansion in the interest-subvention scheme including 6 tariff lines for textiles including made-ups and 101 tariff lines in case of engineering goods besides the 134 lines that were included in January 2013 stated that this would provide some leeway to the MSME export sector who are impacted by the recessionary conditions in the global markets affecting exports of Engineering and Textiles, both of which declined by about 4% in last fiscal.

FIEO Chief stated that the six tariff lines for textiles included: Blankets and Travelling Rugs ; Bed Linen, Table Linen, Kitchen Linen ; Curtains Including Drapes) And Blinds ; Sacks And Bags, Awnings And Sunblinds; Other Made Up Articles etc .

Given that the turnover of the textile industry is pegged at US $ 55 billion at current prices with exports accounting for 36 per cent , India ranked third in  global textile export, coming up behind China and the European Union . Being intensively employment oriented, the extension of interest subvention may come as the much needed relief which was announced in the Annual FTP announced in April this year said Mr. Ahmed.

President, FIEO stated that the 12th Plan document for boosting engineering exports inter-alia suggested reducing credit costs as a necessary pre-requisite for exports. Coverage of more Engineering products for interest subvention is a step to reduce cost of credit and impart competitiveness to Engineering exports which dominate export basket.

Federation of Indian Export Organisations (FIEO)

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search