Home / Knowledge / News / Textiles / Interest subvention scheme for exporters soon
Interest subvention scheme for exporters soon
04
Apr '15
Exporters from select labour intensive sectors will be able to access cheaper credit soon as the government prepares to reintroduce an interest subvention scheme in the next couple of months, according to media reports.
 
“The finance ministry has given us the sanction to extend the interest subvention scheme for exports for three years. We are working out the details of the scheme and hope to be ready with it in two-three months,” commerce secretary Rajeev Kher said at a seminar on the Foreign Trade Policy.
 
Exporters had been pushing for extension of the subvention scheme since April last year, when the previous scheme had lapsed.
 
Under the interest subvention scheme, the beneficiary exporters are provided credit at a subsidised rate by banks, which are later compensated by the government. Kher said labour intensive sectors would be given prominence.
 
The subvention scheme for the current fiscal year, however, may not be much larger than the previous one as the provision of Rs 1,625 crore is only marginally higher than the Rs 1,475 crore spent two years back.
 
The benefit of a 3 per cent subsidy under the previous interest subvention scheme was available to sectors such as handicrafts, handlooms, carpets, readymade garments, processed agricultural products and the small and medium sector.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Steve Cole
Xerium Technologies

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ashok Desai
Bombay Textile Research Association

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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