Home / Knowledge / News / Textiles / Repo should not be more than 3 to 4% - Gangotri Textiles
Repo should not be more than 3 to 4% - Gangotri Textiles
16
Dec '08
Mr Manoj Kumar Tibrewal, Managing Director, Gangotri Textiles
Mr Manoj Kumar Tibrewal, Managing Director, Gangotri Textiles
Recession has created a 'Fear Factor' among people across India as it has brought along with it a sense of financial insecurity.

In an effort to create more liquidity into the financial system and give fillip to the sinking economy due to recession, Reserve Bank of India on Saturday announced to reduce the repo rate by 100 basis points from 7.5 percent to 6.5 percent and the reverse repo rate from 6 percent to 5 percent from December 8.

While speaking exclusively to Fibre2fashion.com, Mr Manoj Kumar Tibrewal, Managing Director, Gangotri Textiles, stated, “This is a welcome step, as it will help the textile industry by lowering interest cost. But, this cut is too small at present, as for the manufacturing sector, the interest has to fall substantially. Sooner it is done earlier will be the revival of manufacturing which is under tremendous stress now.”

Mr Tibrewal continues, “The interest rate in America and Japan is zero and in UK it is mere one percent. So in India also it should not be more than 3-4 percent when compared to the current rate of 12 percent.”

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Wendell Rodricks
Wendell Rodricks

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

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search