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More sops for Indian textile sector in offing
17
Dec '09
Mr Anand Mohan Sharma
Mr Anand Mohan Sharma
Considering that the effects of the slowdown are still visible, the government of India is contemplating announcing more incentives, particularly for labour intensive sectors like textiles, apparels, leather and engineering goods.

On the sidelines of a Confederation of Indian Industry (CII) meeting, the Commerce Minister Mr Anand Mohan Sharma said, “The sectoral reviews have been completed and we will be shortly receiving the recommendations.”

He added by saying, “We will be discussing with the stakeholders and see what is required to be done particularly for the sectors which continue to remain in the red and expect to announce them by first week of January.”

Commenting on November export figures, Mr Sharma said they were satisfactory, considering the slowdown. Exports turned around for the first time in November after falling for 13 straight months to touch US $13.2 billion, up 18 percent y-o-y.

Fibre2fashion News Desk - India

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