Home / Knowledge / News / Apparel/Garments / Indian garment exporters unhappy with interest subvention
Indian garment exporters unhappy with interest subvention
03
Jan '12
Indian garment exporters are disappointed with the recent announcement of the Government to extend the rupee credit interest subvention scheme up to March 31, 2012 for handloom, handicraft, carpet and small and medium enterprise (SME) sectors.

The exporters lament that the scheme excludes garment and knitwear sectors and hence, it will benefit only 40 percent of the industry.

Under the rupee export credit interest subvention scheme operated by Reserve Bank of India (RBI), the Government provides two percentage points interest subvention per annum to all scheduled commercial banks, for rupee export credit to specified categories of exporters.

Out of the total requirement of Rs. 38.92 billion towards interest subvention for the period up to March 2011 projected by RBI, only Rs. 16.54 billion has been released by the RBI so far.

From the balance Rs. 22.38 billion, the CCEA has given its approval to the Department of Commerce for release of Rs. 9.96 billion. This leaves Rs. 12.5 billion for which the Centre gave its approval last month along with approval for additional funds of Rs. 8 billion needed owing to the Government extending the scheme from April 1, 2011 to March 31, 2012.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search