Home / Knowledge / News / Textiles / Textile Minister seeks bailout package from Govt
Textile Minister seeks bailout package from Govt
Dec '08
Mr Shankersinh Vaghela, Minister of Textiles
Mr Shankersinh Vaghela, Minister of Textiles
The Textile Ministry has requested the Prime Minister's Office and the Finance Ministry to draft a bailout measure for the textile and garment industry in the country, said the Minister of Textiles, Mr. Shankersinh Vaghela. He added by saying that we have suggested a comprehensive package, which is in line with the demands put up by the industry.

Giving the details of the recommended package he said that, it includes providing interest rate subvention, increasing duty-drawback to 4 percent, reducing margin money requirement to 10 percent from the current 25 percent and making cheap credit available to the industry.

Mr Vaghela added by saying that the sector has witnessed a decline in the month of October and an overall drop in the targeted figures for the current fiscal (2008-09) is also expected. The Ministry had earlier in the year, projected a growth rate of 20 percent over the last fiscal's figure. It is anticipated by experts that export figures in the current fiscal year may remain stagnant at last fiscal's levels.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Ashok Desai
Bombay Textile Research Association

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search