Home / Knowledge / News / Textiles / Stimulus measures to some sectors may be retained
Stimulus measures to some sectors may be retained
Feb '10
Commerce and Industry Minister Anand Sharma said that, the Finance Ministry may contemplate withdrawal of stimulus to certain exporting units which have depicted vigorous growth, but a comprehensive “abrupt” removal is not desirable.

He was speaking at a FICCI function, while answering to the query as to whether the Budget contains any provision with regards to withdrawal of stimulus.

With constricting exports since October 2008, the government had extended specific concessions like interest subsidy and higher duty refunds to aid the exporters.

Prospects for ending the stimulus are being debated, as exports experienced a positive spin after 13 months, since November 2009 and also the manufacturing has become vigorous with an approximate growth of 8.9 percent for the financial year.

Planning Commission Deputy Chairman Montek Singh Ahluwalia while partaking in the discussion remarked that the stimulus measures have worked and now they should start phasing it out. He also held that the fiscal deficit in the next year will decrease in comparison to this year.

FIEO President A Sakthivel said that the sectors which have performed exceptionally well can be pulled out of the stimulus assistance so as to advance focused assistance to the sectors depicting waning or average growth.

Sharma said that though the exports have revived, the resurgence is not consistent. Sectors like engineering, leather and textile are still facing rough weather in the western markets. He also added that they are not in favour of immediate pull out of the stimulus packages.

During April to December last year India's exports declined to $117.58 billion from $147.56 billion, which is a plunge of 20.3 percent.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

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

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Mohammad Hassan
Biax Fiberfilm

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

Johan Berlin
InvestKonsult Sweden AB

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search