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

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Mark Paterson
Technical Absorbents Ltd

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

Kerem Durdag
Biovation II LLC

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search