Home / Knowledge / News / Textiles / Repo should not be more than 3 to 4% - Gangotri Textiles

Repo should not be more than 3 to 4% - Gangotri Textiles

16
Dec '08
Mr Manoj Kumar Tibrewal, Managing Director, Gangotri Textiles
Recession has created a 'Fear Factor' among people across India as it has brought along with it a sense of financial insecurity.

In an effort to create more liquidity into the financial system and give fillip to the sinking economy due to recession, Reserve Bank of India on Saturday announced to reduce the repo rate by 100 basis points from 7.5 percent to 6.5 percent and the reverse repo rate from 6 percent to 5 percent from December 8.

While speaking exclusively to Fibre2fashion.com, Mr Manoj Kumar Tibrewal, Managing Director, Gangotri Textiles, stated, “This is a welcome step, as it will help the textile industry by lowering interest cost. But, this cut is too small at present, as for the manufacturing sector, the interest has to fall substantially. Sooner it is done earlier will be the revival of manufacturing which is under tremendous stress now.”

Mr Tibrewal continues, “The interest rate in America and Japan is zero and in UK it is mere one percent. So in India also it should not be more than 3-4 percent when compared to the current rate of 12 percent.”

Fibre2fashion News Desk - India


Interviews View All

Manuj Terapanthi, Texaura

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Verena Ruckh,

Verena Ruckh

Brückner Trockentechnik develops, manufactures and supplies textile...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

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...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

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

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


October 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search