Speaking on the announcement Dr. Sakthivel said, “2% Interest Subvention Scheme decision to extend for specific sectors up to 31st March 2014 is a timely move and will help in boosting the exports. It will surely give needed thrust to the apparel and textiles sector which was reeling under the sluggish markets of US and Europe. The impacted markets especially in Europe and America’s and the resultant weak demand have adversely impacted performance of our exports.”
Chairman AEPC also commented that, “I am grateful to Textiles Minister Shri Anand Sharma for the decision has been taken to grant incentive on incremental exports made during the period January-March 2013 over the base period January-March 2012. This incentive would be available to an IEC holder at the rate of 2% on the incremental growth of exports made to USA, EU and countries of Asia.” 74% garments exporters would get the benefits of this scheme, he added.
On the extension of markets for Market Linked Focused Product Scheme and Special Focus Market Scheme Chairman said, “It will help in boosting the exports to non-traditional markets and help in product diversification drive. We are already targeting the newer markets and the buyer’s response is positive in the new countries.”
Apparel Export Promotion Council
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