Home / Knowledge / News / Textiles / Hike in interest subvention to boost textile export – SIMA
Hike in interest subvention to boost textile export – SIMA
Aug '13
The government has announced increase in the rate of interest subvention from 2% to 3% to the exporters belonging to various sectors. It has been mentioned that all pending claims would also be cleared immediately.

Welcoming the decision, Mr S Dinakaran, Chairman, The Southern India Mills’ said that the decision to increase the interest subvention from 2% to 3% is timely for all the sectors in the backdrop of balance of payment issues. 

He has specifically mentioned that sectors announced for the benefit would include handlooms, handicrafts, readymade garments, made-ups coming under the textile value chain.  The salient feature of this announcement, Mr.Dinakaran said, is the widening of coverage of benefit to all exporters of micro and small enterprises irrespective of the export sector, especially labour intensive sectors.

Mr.Dinakaran has stated that since the textile industry is back to normalcy after severe recession in 2010-11, it can contribute sizably for the country’s exports.

SIMA Chief has thanked Hon’ble Union Commerce & Industry Minister and Union Finance Minister for increasing the interest subvention.  Mr.Dinakaran has also thanked the Hon’ble Union Minister of Textiles for his concerted efforts to increase the textile exports by 30% in one year.

Southern India Mills' Association (Sima)

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Textiles | On 22nd Oct 2016

Kazanorgsintez picks Technip’s furnace for ethylene plant

Supplier of technology for petrochemical plants, Technip has been...

Textiles | On 22nd Oct 2016

Clariant start ups PP catalyst plant with CB&I technology

Clariant has started up a new polypropylene (PP) catalyst production...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

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

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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