Home / Knowledge / News / Apparel/Garments / New fiscal package for RMG exporters
New fiscal package for RMG exporters
15
Sep '10
As divulged by the Finance Ministry, now the exporters now can obtain loans to the extent of $10 million from the Export Development Fund (EDF).

Also, the government has decided to continue giving five percent cash incentive on their total value of exports to small and medium textile enterprises till June 30, 2011.

The above information was released by the Finance Ministry through a notice detailing the measures taken under the second stimulus package. The Bangladesh Bank would notify other banks in this regards by means of a separate notice.

Small and medium businesses may avail loans under EDF to a maximum of $10 million. Interest on these loans would be charged as per the London Inter-Bank Offer Rate (Libor) plus one percent for loans up to one and a half million dollars, and Libor plus two and a half percent for loans up to $10 million.

Eve those textile companies which exported items worth up to three and a half million dollars in 2008-09 are also eligible to get a five percent cash incentive in 2010-11 fiscal. However, any sort of bonded warehouse or duty drawback facility will not be provided to them.

The notice cites that, the subsidiaries of the holding company will not stand eligible to receive the benefits.

The companies would get five percent of the total export value under the 'new market exploration assistance' for all textile products that they export during 2009-10, while the assistance would be available at the rate of four percent in 2010-11 and two percent in 2011-12.

Currently, the RMG exporters are entitled to get five percent cash incentive, but this is subject to fulfilment of some conditions.

Fibre2fashion News Desk - India


Must ReadView All

Decision in UK budget to attract investment in retail: BRC

Textiles | On 24th Nov 2017

Decision in UK budget to attract investment in retail: BRC

British finance minister Philip Hammond’s announcement in his budget...

Courtesy: Shangdong Ruyi

Textiles | On 24th Nov 2017

Shangdong Ruyi to acquire major stake in Bagir

Shangdong Ruyi Technology Group Ltd, one of the leading Asian global...

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Apparel/Garments | On 24th Nov 2017

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Chinese e-commerce firm JD.com has invested $44 million in Tiki.vn, a ...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Victor Chao
Esmetex

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

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Igor Chapurin
Chapurin

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

Robert Brunner
Devereux

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search