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

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Stefano Gallucci (left), CEO, Santex Rimar Group, and Tamer Hasbay, President, Has Group; Courtesy: Santex Rimar

Textiles | On 24th Jan 2017

Santex Rimar to market all Has products globally

Italy based Santex Rimar Group has signed an agreement with Turkey...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Kerem Durdag
Biovation II LLC

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pranav Mishra
Huemn

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

Wendell Rodricks
Wendell Rodricks

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
January 2017

January 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