Home / Knowledge / News / Textiles / Special relief package for textile industry in offing
Special relief package for textile industry in offing
22
Nov '08
A special relief package to prop the export sector is expected to be presented to the apex committee chaired by the Prime Minister by next week-end, Mr. G K Pillai, Commerce Secretary, announced here today.

Addressing a meeting on 'Global Slowdown and Strategies for Sustaining India's Export Growth', organised by FICCI, Mr. Pillai said: “The Committee of Secretaries has had detailed discussions with the various export sectors and we hope to finish the exercise by Monday. By the end of the week the export relief package would be presented to the apex committee for its approval”.

The relief package, he said, will factor in the difficulties being faced by exporters and the fall-out of the global financial crisis, “the worst of which will come in March-April 2009,” Mr. Pillai said. He urged exporters to bring to the notice of the finance and commerce ministries, bank braches that were hesitant or unwilling to lend, despite explicit instructions from the Reserve Bank of India.

Mr. Pillai said, a meeting of Chief Ministers has been convened in the first week of December to discuss issues relating to the export sector and expediting the payment of dues to the industry, including refund of VAT.

The Commerce Secretary said, the government would be most sympathetic to employment-intensive sectors such as textiles, gems & jewellery and handicrafts.

He said, the government would actively consider reinstating the duty drawback and DEPB rates which were lowered before the financial crisis gripped the world and the rupee was appreciating. It would also strengthen the anti-dumping mechanism to ward off large scale dumping from China, Korea and Taiwan.

Representatives from the textiles, chemicals, garments, leather & footwear, synthetic fibre, tyre, steel, roller flour mills, rice, handicrafts, automotive bicycles, and meat and livestock sectors listed out the problems being faced by their industries and urged the government to come out with immediate remedial measures.



FICCI


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Silke Brand-Kirsch
Schlegel und Partner

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

Suresh Patel
Sidwin Fabric

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silvia Venturini Fendi
Fendi s.r.l

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

Sonam & Paras Modi
SVA

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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:
June 2017

June 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