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We welcome interest rate subsidy to garment sector - GEA
05
Jun '12
Mr. Rakesh Vaid, President, Garments Exporters Association (GEA) has complimented Shri Anand Sharma, Union Minister of Commerce, Industry & Textiles for the positive initiatives announced in the Annual Supplement to the Foreign Trade Policy, which will boost Indian exports by making them more competitive in the International market.

The extension of 2 per cent interest rate subvention to readymade garments till 31st March, 2013 is a step in the right direction and will provide necessary relief to garment exporters, said Mr. Vaid.

Mr. Vaid has also welcomed the extension of 2 per cent Market Linked Focus Product Scheme for export to US & EU in respect of items falling in Chapter 61 & Chapter 62, which will further boost exports in EU and USA, the two major important markets.

Mr. Vaid has also welcomed the introduction of a new Post-Export Scheme, where exporters may import capital goods on payment of duty in cash and subsequently, receive duty scrip on completion of export obligation.

Mr. Vaid has also appreciated steps taken to cut-down the transaction cost for exporters and promoting technological Upgradation of exports. Mr Vaid, expressed hope that the above policy initiatives will assist our exporters to achieve export target by promoting our exports in the international market.

Garments Exporters Association (GEA)

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