Home / Knowledge / News / Textiles / Leather & textile sectors receive Rs 3250 million bounty
Leather & textile sectors receive Rs 3250 million bounty
27
Feb '09
Shri Kamal Nath, Minister of Commerce and Industry, while observing that the exports from Gems & Jewellery, Cotton yarn, Fabrics, Made-ups, Jute manufacturing, Carpets, Handicrafts sectors have been affected extensively this year, informed that a number of measures have been taken to help the exporters during the present economic slowdown in export markets through three stimulus packages on the fiscal side as well as through other measures in the banking sector.

Some of the measures include provision of interest subvention of 2% till 31.12.2009 for certain labour intensive sectors, additional funds of Rs.1200 crore for CST/ TED / Drawback refunds, extension of DEPB scheme up to 31.12.2009, restoration of DEPB rates for all items at rates prevailing prior to November, 2008, and increase in duty drawback rates on certain items effective 1st September, 2008.

Around Rs.2300 crore have been provided through various existing schemes for cushioning the adverse impact of declining exports. In addition, certain measures have been taken by RBI to reduce interest rates and provide liquidity.

He further announced that the exports of leather and textile sectors would be given incentives of Rs.325 crore with effect from April 1, 2009. He also announced export incentives for certain items like technical textiles, stapling machine and handmade carpets.

Ministry of Commerce & Industry

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Suresh Patel
Sidwin Fabric

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
March 2017

March 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