Home / Knowledge / News / Textiles / Value added textile sector to receive bounty in new policy
Value added textile sector to receive bounty in new policy
19
Jun '09
While addressing a post-budget seminar, the advisor to the Prime Minister, Mr Shaukat Tareen, said that the government will spend Rs 40 billion during the new fiscal year for providing incentives to the value-added textiles sector the details of which would be revealed in the new textile policy.

He urged the manufacturing sector to display patience since the government is fully aware of decline in industrial production and has committed the new fiscal year as the year of industrial revival and would try to remove all irritants coming in the way of doing business smoothly.

Giving out details he said, the government will provide assistance to the tune of Rs 60 billion to all those companies into value addition across all sectors. Export refinance has been increased from last year's Rs 140 billion to Rs 250 billion in the new budget 2009-10.

He added by saying that the SMEs would have access to credit through the Rs 10 billion credit guarantee fund while the new entrepreneurs would get venture capital without collateral from a separate Rs 10 billion fund established for this purpose.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Prathyusha Garimella
Prathyusha Garimella

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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