Home / Knowledge / News / Textiles / Govt in no mood to provide sops to textile industry
Govt in no mood to provide sops to textile industry
03
Oct '08
In the last few months, there has been a fall of nearly 18 percent in value of Indian Rupee against US dollar, which has made life easy for a majority of textile and garment exporters of the country, except for those who had hedged their foreign currency incomes in the last few months on expectations of a rising rupee.

The Commerce and Textile ministries had lobbied hard in the last few months to secure export incentives to the textile and garment exporters. But since the fall of the rupee, the two ministries are breathing easy.

The incentives announced earlier and set to expire at end of June have been allowed to lapse and there was no effort on part of both ministries to increase the deadline for the same in face of the changed situation.

The government had earlier announced withdrawal of increase in drawback rates and interest rate subvention of 4 percent from October 1, which otherwise was supposed to be till March 31, 2009. The exporters had raised a huge hue and cry over the announcement.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Alessandro Zucchi; Courtesy: ACIMIT

Textiles | On 29th Jun 2017

Alessandro Zucchi succeeds Carabelli as ACIMIT president

The members’ assembly of the Association of Italian Machinery...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Kerem Durdag
Biovation II LLC

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ritu Kumar
Label Ritu Kumar

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

Pranav Mishra
Huemn

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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