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)


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Sep 2020

Global economic forecast not as dark as earlier guess: IMF

Though the global economic outlook is not quite as dark as expected...

Pic: Edinburgh Woollen Mill

Fashion | On 26th Sep 2020

FRP appointed to value Peacocks, Edinburgh Woollen Mill

Edinburgh Woollen Mill Group CEO Philip Day has started the...

Pic: Shutterstock

Retail | On 26th Sep 2020

India plans retail trade policy, settling logistics policy

India plans to formulate a retail trade policy for which stakeholder...

Interviews View All

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Textile industry, Head honchos

Textile industry
Head honchos

It is a well-calibrated budget

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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 2020

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


Advanced Search