Home / Knowledge / News / Textiles / Apparel sector benefits from new Foreign Trade Policy
Apparel sector benefits from new Foreign Trade Policy
05
Jun '12
In addition to the labour intensive sectors like, carpets, handicrafts, handlooms and SME sector, the Commerce Minister - Mr Anand Sharma extended incentives to the Indian garment sector, today.

Announcing the annual supplement to the Foreign Trade Policy, he said, "We have decided to extend the interest subvention scheme for another year till March 31, 2013".

In addition to sectors which were entitled to the interest subvention scheme last year, more sectors like apparels, toys, sports goods and processed agriculture products will benefit from this scheme.

Under the interest subvention scheme, announced last year, two percent interest subsidy was given to the carpets, handicrafts, handlooms and SME sector.

Mr Sharma was optimistic that with the help of these measures, the country would be able to sustain a 20 percent growth rate in exports. In fiscal 2010-11, Indian exports rose 21 percent to US $303 billion.

Among other measures, he announced that, the Foreign Trade Policy would help reduce transaction costs, comprehensive trade pact talks with EU in advanced stage and that nil duty capital goods export scheme has been extended by one more year.

He also said that India is currently negotiating FTA deals with Australia, New Zealand and Canada, that the special focus will facilitate exports from North-East India and incentives on garment exports to the US and EU extended till March 31, 2013.

He also informed that the Commerce Ministry was drafting new guidelines for Special Economic Zones (SEZs)

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Ashok Desai
Bombay Textile Research Association

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

Mohammad Hassan
Biax Fiberfilm

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


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