Home / Knowledge / News / Textiles / Increased funds for TUFs for textiles sector to resurrect MSME export, FIEO
Increased funds for TUFs for textiles sector to resurrect MSME export, FIEO
03
Jul '09
Mr A Sakthivel, President, Federation of Indian Export Organisations (FIEO) while commenting on the Economic Survey presented in the Parliament stated that the GDP growth rate in 2008-2009 had shown a decline of 6.1% after growth levels of 8-9% in the last 4/5 years. Estimates from World Bank data indicate a further decline in GDP and in such circumstances supportive measures need to be announced in the forthcoming budget.

The FIEO Chief elaborated that envisaging the challenges ahead the economic survey has suggested measures such as tax simplification for fiscal sustainability, revitalizing disinvestment, implementation of GST, review and phase out of surcharges, cesses including FBT which would also reduce the transaction / overhead costs on MSME export sector.

Commenting on the Section on the External Sector, the FIEO Chief explained that although World Trade Volumes are expected to be in the negative zone (-9%) there have been some signs of recovery in May, 2009 as indicated by the Baltic Dry Index and as corroborated by the survey, the Merchandise Trade Sector would require measures to make it competitive.

Measures such as higher subvention of interest, higher rates of duty drawback and DEPB, better allocations to Technology Upgradation Fund (TUFs) for the Textile Sector need to be considered urgently to resurrect the MSME Export Sector from the existing crises.

Federation of Indian Export Organisations


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella
Prathyusha Garimella

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

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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