>>
Home / Knowledge / News / Textiles / 'We want state specific relief package' - Mr Upadhyay, BCIC

'We want state specific relief package' - Mr Upadhyay, BCIC

16
Dec '08
Mr Upadhyay, President, BCIC
The recently announced fiscal package has brought along bouquets and brickbats for the central government. While some association bodies have heralded the package, others are looking for more incentives to save their respective sectors. The Bangalore Chamber of Industry & Commerce (BCIC) has now urged the state government to announce a state specific relief package along with a one year interest free scheme for the industries.

Justifying the need for another package and a state specific one in particular, the President of BCIC, Mr Upadhyay said, “The global crisis has impacted harder than initially estimated. The state of the Indian economy and the industries in particular seems to be difficult in the near future in view of the increased integration of the economy with the global economy like never before.”

He added by saying that, “Recent measures announced do not seem to have had the desired effect. The situation in the state is worse since it is even more integrated due to the IT sector and the large number of export oriented industries. The state government should help exports of garment, IT and engineering industry by making finance available on softer terms.”

According to Mr Upadhaya, the BCCI has asked the Chief Minister to prevail on the Union Government to reduce the lending rates of the banks by further reducing the cash reserve ratios and repo rates as the industries are going in through a severe credit crunch. The body has also suggested the government to come out with measures to deal with job losses in the garment and IT sector as it is expected to witness the same in the coming weeks.

Among other demands the BCCI has suggested that 100 percent export units be allowed to sell 35 percent of their produce in the domestic markets, thereby easing their credit crunch and help the state earn extra taxes. They have also suggested the government to improve governance, reduce corruption, tighten administrative machinery and stimulate infrastructure spending as these are key measures.

Fibre2fashion News Desk - India


Must ReadView All

Pic: humphery / Shutterstock.com

Textiles | On 29th May 2022

Industrial profit growth in China slows in Jan-Apr 2022

Profit growth of major Chinese industrial companies slowed during...

Pic. Shutterstock

Textiles | On 29th May 2022

German minister says G7 nations to decarbonise energy sector by 2035

The countries belonging to the Group of Seven (G7) have agreed to...

Pic. Bold Metrics

Retail | On 29th May 2022

US’ Bold Metrics secures $8 million in Series A financing

Bold Metrics, the AI-first SaaS solution helping companies unlock the ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Eric Durivault,

Eric Durivault

<font color="#333333" face="Helvetica, sans-serif">IDELAM is a...

Henry Krause,

Henry Krause

<font color="#333333" face="Arial, sans-serif">Polygiene is a market...

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Barbara Biosah, Label - Dumebi

Barbara Biosah
Label - Dumebi

Label DUMEBI is a luxury womenswear brand specialising in unconventional...

Anna Yang, Label - Annakiki

Anna Yang
Label - Annakiki

Anna Yang is founder of brand Annakiki that explores a surrealist fantasy. ...

Maria Camila Giraldo, Brand - Pam & Gela

Maria Camila Giraldo
Brand - Pam & Gela

Maria Camila Giraldo is a Colombian actress, writer and entrepreneur...

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

ESTEEMED CLIENTS

IIGM Private Limited
International Sourcing Expo Australia
Midas Clothing Limited
Truetzschler India Private Limited
Decathlon
USTER
X-Rite Asia Pacific Limited (HK)
CSGIA(China Screen Printing & Graphic Imaging Association)
BTC Textiles LLC
BIMBA ;& LOLA SL
John Varvatos
Restoque S.A.
Officina Meccanica Dora Enrico Srl
Esprit Europe Services GmbH
Vianney Textil Hogar S.A. De C.V.
Lululemon Athletica Inc
Bluesign Technologies Ag
Colours India Inc
Sportmaster Ltd.
C;&A Sourcing International Ltd
Brandix Lanka Limited
Gap International Sourcing Limited
Mesdan SPA
Alison Hayes Romania
Thai Acrylic Fibre Company Limited
TÜYAP IHTISAS FUARLARI A.S.
JES MEDIA, INC
Loris Bellini S.r.l.
Puma
PVH Corporation
Asos
G-Star Raw C.V.
Hela Clothing Pvt Ltd
Weitmann & Konrad GmbH & Co. KG
COTTON COUNCIL INTERNATIONAL
Tommy Hilfiger
Brückner Trockentechnik GmbH & Co. KG
KIABI
Xtema - Thomas Lebherz Textilmaschinen
Messe Duesseldorf
OVS Hong Kong Sourcing Ltd.
Rosset ;& Cia Limited
GERBER TECHNOLOGY LTD.
BTSR International S.P.A.
MAS Active / MAS Kreeda / MAS Bodyline
Desigual - ABASIC, S.A.
The Top Form Brassiere Manufacturing Company Limited
Zydex Industries
Hirdaramani International Export Private Limited
Tchibo GmbH
Kern – Liebers Textile
Aquarelle Clothing Limited
Calvin Klein
Istanbul Fuarcilik A.S.
Groz-Beckert KG
Gokaldas Exports Limited
Aramark Uniform ;& Career Apparel, LLC
Splash
Shanghai  Aige Exhibition Service Co., Ltd
International Textile Manufacturers Federation
Mayer & Cie. GmbH & Co. KG
Lottmann Communications
BRINKMANN GMBH
DyStar India Pvt. Ltd
TESCO INTERNATIONAL SOURCING LIMITED
Thermore (Far East) Ltd.
Thai Trade Center
Infor (Hong Kong) Limited
FESPA (Reigate)
Eurofins BLC Leather Technology Centre Ltd
Haelixa AG
Alix Partners
H;&M Hennes ;& Mauritz (Far East) Ltd
Saurer Textile Solutions Pvt. Ltd.
Rieter India Private Limited
Chori Company Limited
Indofil Industries Limited - Specialty & Performance Chemicals Division
Sportswear Company Spa
Vardhman Textile Ltd
Lectra Technologies India Pvt Ltd.
Inter Expo Center Ltd.
Phong Phu international JSC (PPJ)
Datatex Consulting Srl
Stahl Holdings B.V.,
Recron Polyester from Reliance Industries Limited
Eastman Chemical Company
FULGAR SpA
SYNERGIES HONG KONG LIMITED
IDH – The Sustainable Trade Initiative
Dow Silicones Corporation
Arvind Limited
Centric Software
N9 World Technologies Private Limited
Comasia Limited
Lisa S.P.A.
ZAITEX spa
Recron Polyester from Reliance Industries Limited
APLF Limited
Walmart
Zünd Systemtechnik AG
T.T. Limited
Gloria Jeans
Helly Hansen Far East Ltd
Copenhagen Fashion Summit
TESTEX AG, Swiss Textile Testing Institute
Cat Tuong Real Estate Group Joint Stock Company
NITI Aayog
Tory Burch Hong Kong Ltd
Groz-Beckert East Asia LLP
Chico’ FAS
Coats Digital Limited
Nihalani Events Management
J ;& P Coats
Sateri (Jiujiang) Fiber Co.,Ltd
CGS Inc.
Tradewind International Servicing
Sainsbury's Argos Asia Limited
THE BOMBAY DYEING ;& MFG.CO. LTD
Kornit Digital Asia Pacific Ltd
ITMA Services Pte Ltd
SHAHI Exports Pvt Ltd
Amazon China
Palexpo SA
IKEA of Sweden AB
EUROVET ASIA LTD
TEXVALLEY MARKET LIMITED
Boardriders Asia Sourcing Limited
GIOVANNI BOZZETTO S.p.A.
China World International Exhibition Company Limited
EMBEE CORPORATION
Bluestem Global Sourcing Limited
Page Industries Limited (Bangalore)
Indo Tex
Seasalt Limited
Itema Weaving (India) Private Limited
Savio Macchine Tessili S.P.A.
BIANCA
Varner AS Retail
Lenzing Aktiengesellschaft
Permoda(Koaj/Armi/Pronto/Bkul)
Babyshop
Newtech Textile Technology Development (Shanghai) Company Limited
LC Waikiki
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Under Armour Global Sourcing Ltd
Pt. Peraga Nusantara Jaya Sakti
Meera Dyestuff Industries
UBM China (Shanghai)
Lacoste (Wanchai)
Jiangsu Yingyang Nonwoven Machinery Company Limited
Applied DNA Sciences Inc
Target Corporation (MN)
Gatsby Africa
Karl Mayer Textilmaschinenfabrik GmbH
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
GHCL LIMITED
VNU Exhibitions Asia
Datacolor AG Europe
NV Michel Van de Wiele
Tuyap Tum Fuarcilik Yapim A.S.
Nandan Denim Limited
Lifestyle
Green Fibre
Guess Europe Sagl,
Equinox Impex India
Aleph Srl
Performance Days
K AND D ITMACH EXPOSITIONS LLP
Benetton Group
Maceton Limited
Italian Trade Commission
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Jindal Worldwide Limited
The LYCRA Company Singapore  Pte. Ltd
KAS Direct Sourcing
Marzoli Machines Textile s.r.l.
Grasim Industries Limited
H. Stoll AG & Company KG
Landmark Group
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Etam Group Strategy Hong Kong Limited
Reiter India Private Limited
Color Service s.r.l.
Shima Seiki Mfg. Ltd.
Woolmark Services India Pvt. Ltd.
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Huntsman (Singapore) Pte Ltd
Rayonese Textile Inc., Division de Culp Inc.
Messe Frankfurt Exhibition GmbH
Abit
EPCH
Taiwan Textile Federation (TTF)
Flainox S.r.l.
DuPont de Nemours, Inc.,
Lenzing Aktiengesellschaft - India
The LYCRA Company Singapore  Pte. Ltd
IFF Media Ag - International Media Services
G.A.S. unternehmenskommunikation gmbh

May 2022

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


Advanced Search