Home / Knowledge / News / Apparel/Garments / 2% of interest subvention to benefit to knitwear exporters - TEA
2% of interest subvention to benefit to knitwear exporters - TEA
Oct '09
Reserve Bank of India has issued a notification yesterday (12.10.2009) by including Readymade Garments under the Rupee Export Credit Interest Subvention Scheme with retrospective effect from 1.12.2008. The 2% Interest Subvention Scheme is available from 1.12.2008 to 31.3.2010.

Shri.A.Sakthivel, President, TEA welcomed RBI notification for inclusion of Readymade Garments under the 2% Interest Subvention with effect from 1.12.2008.

Shri.Sakthivel said the benefit of 2% of interest subvention will provide a relief to knitwear garment exporters at a time when the knitwear sector is facing the demand compression in the global market apart from severe price competition.

Shri.A.Sakthivel also added that lowering of interest rate through interest subvention will also give relief from recent Rupee Appreciation against Dollar.

Shri. A.Sakthivel thanked the Hon'ble Minister of Commerce and Industry, Hon'ble Finance Minister and RBI Governor and said the RBI notification has come after continuous representation made to Ministry of Commerce and Industry, Ministry of Finance and RBI.


Must ReadView All

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Platinum Equity acquires International Textile Group

International Textile Group (ITG) has been acquired by Platinum...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Urs Stalder
Sanitized AG

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search