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

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Apparel/Garments | On 19th Jan 2017

Asahi Kasei to display sustainable fibre at trade shows

Asahi Kasei, specialty Japanese fibre producer, will be displaying...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

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

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

January 2017

January 2017

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


Browse Our Archives


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