Home / Knowledge / News / Textiles / Govt bails out textile sector with stimulus package
Govt bails out textile sector with stimulus package
26
Mar '09
The Portuguese government has finally woken up to the fact that its textile and garment industry is in the deep throes of the recessionary trends prevailing across its key markets; countries in the European Union and needs emergency measures for survival.

The government has now announced a € 850 million stimulus package for the domestic textile and garment sector. This will help the sector access funds at cheaper rates, boost exports and ensure that jobs are not lost in the labour intensive sector.

The textile and garment industry in Portugal employs over 180,000 people and accounts for over 12 percent of export revenues of this European country. Exports fell by 6.5 percent in 2008, mainly due to reduced demand from its biggest market; Spain.

The government will also fund investment and give incentives for modernization of the textile units to upgrade themselves as well as provide support for availing of export credit insurance and faster access to European Union funds.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Lynda Kelly
Suominen Corporation

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

Mohammad Hassan
Biax Fiberfilm

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

Mark Paterson
Technical Absorbents Ltd

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

Rupa Sood and Sharan Apparao
Nayaab

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
February 2017

February 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