Home / Knowledge / News / Apparel/Garments / AEPC demands separate interest rates for export sector
AEPC demands separate interest rates for export sector
02
Aug '13
Dr A Sakthivel, Chairman AEPC has written to Union Finance Minister, Shri P Chidambaram, on the demand of Garment Exports to give separate chapter for interest rates in export sector.

In his letter Chairman AEPC wrote, “Reserve Bank of India has announced the credit policy.  However, the garment export industry was expecting lowering of the interest rate, which has not been announced. 

“The pre and post shipment credit rates are hovering around 10% which is very high when compared to interest rates available to our competitors.”

It was your initiative through which you had given a separate chapter for interest rates in the export sector.  The industry appeals to you for reintroduction of the separate rates of fixed 7.5 % for the labour intensive sectors of clothing and textiles, he added.

Dr Sakthivel further said, the industry is looking upon you for this help as a stable and long term solution to uncertain high lending interest rates.

On increasing the interest subvention from 2% to 3%, Chairman AEPC, Dr A Sakthivel, thanked Union Finance Minister.

He stated that, “The garment exporting community takes this opportunity to thank you for enhancing the interest subvention from 2% to 3 % in Readymade Garment sector.  This initiative is a great help to our labour intensive sector employing over 11 million workers and industry earning over Rs.75000 Crores.”

Apparel Export Promotion Council


Must ReadView All

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Leisure sneakers lead US footwear sales: The NPD Group

Apparel/Garments | On 21st Jun 2018

Leisure sneakers lead US footwear sales: The NPD Group

Leisure sneakers dominated US footwear sales between May 2017 and...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search