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New stimulus package to target textile & leather sector
02 Feb '09
1 min read
According to the Minister for State for Industries, Mr Ashwani kumar, the government will announce a new stimulus package within a period of four to six weeks in addition to the two already declared by the government. Mr Ashwani kumar said this after inaugurating the 24th India International Leather fair in Chennai.
He added by saying that the new stimulus package will particularly focus on labour intensive industries as well as export oriented sectors like textiles and leather. The focus of the government, according to the minister is to protect and minimize job losses and not offer sops to any particular sector.
The annual India International Leather fair, which is organised by the India Trade promotion organization annually, has 392 companies participating in the expo, which includes 122 overseas companies. The slowdown has resulted in a marginal reduction in the number of participating companies at the fair.
He added by saying that the new stimulus package will particularly focus on labour intensive industries as well as export oriented sectors like textiles and leather. The focus of the government, according to the minister is to protect and minimize job losses and not offer sops to any particular sector.
The annual India International Leather fair, which is organised by the India Trade promotion organization annually, has 392 companies participating in the expo, which includes 122 overseas companies. The slowdown has resulted in a marginal reduction in the number of participating companies at the fair.
Fibre2fashion News Desk - India
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