Home / Knowledge / News / Textiles / Hike in interest subvention to boost textile export – SIMA
Hike in interest subvention to boost textile export – SIMA
01
Aug '13
The government has announced increase in the rate of interest subvention from 2% to 3% to the exporters belonging to various sectors. It has been mentioned that all pending claims would also be cleared immediately.

Welcoming the decision, Mr S Dinakaran, Chairman, The Southern India Mills’ said that the decision to increase the interest subvention from 2% to 3% is timely for all the sectors in the backdrop of balance of payment issues. 

He has specifically mentioned that sectors announced for the benefit would include handlooms, handicrafts, readymade garments, made-ups coming under the textile value chain.  The salient feature of this announcement, Mr.Dinakaran said, is the widening of coverage of benefit to all exporters of micro and small enterprises irrespective of the export sector, especially labour intensive sectors.

Mr.Dinakaran has stated that since the textile industry is back to normalcy after severe recession in 2010-11, it can contribute sizably for the country’s exports.

SIMA Chief has thanked Hon’ble Union Commerce & Industry Minister and Union Finance Minister for increasing the interest subvention.  Mr.Dinakaran has also thanked the Hon’ble Union Minister of Textiles for his concerted efforts to increase the textile exports by 30% in one year.

Southern India Mills' Association (Sima)


Interviews View All

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Top executives, Textile Industry

Top executives
Textile Industry

We will move away from mass production to production in micro-factories

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Michael Van Den Dolder,

Michael Van Den Dolder

Family-owned German textile machinery manufacturer Trützschler operates...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

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

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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

Leave your Comments


September 2019

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

news category


Related Categories:

Advanced Search