Home / Knowledge / News / Textiles / Govt announces textile machinery upgrading incentive
Govt announces textile machinery upgrading incentive
02
Apr '09
Mr Ansari Bukhari, the Director General of Metals, Machine and Textiles said that the government intends to assist the textile and clothing industry upgrade their machinery and equipment by providing an assistance of US $20.8 million, under an industrial technology upgrading scheme.

He said, the loans would cover up to 15 percent of the value of machinery purchased from domestic markets and 10 percent on imported machinery and at the same time banks would provide low interest loans with guarantees provided by the state.

Divulging statistics he said 92 companies had taken advantage of the in 2007, 175 in 2008 and hopes to target 200 enterprises in 2009. Experts have however derided the scheme, lending rates have to be brought down to single digits to make the scheme popular.


Fibre2fashion News Desk - India

Must ReadView All

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Paolo Ocleppo
Sandvik Hyperion

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

Mark Paterson
Technical Absorbents Ltd

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mike Hoffman
Gildan Activewear SRL

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

Rupa Sood and Sharan Apparao
Nayaab

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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