Home / Knowledge / News / Textiles / We expect more relief from RBI – JCT Ltd

We expect more relief from RBI – JCT Ltd

30
Dec '08
Slower demand in the market due to recession has compelled companies to go for production cuts and job cuts. This has invoked a sense of financial insecurity among people.

In order to increase the inflow of liquidity in the market and to cope up with the current recession, the Reserve Bank of India recently announced the reduction of repo rate by 100 basis points from 7.5 percent to 6.5 percent and the reverse repo rate from six percent to five percent.

While speaking exclusively to Fibre2fashion.com, Mr Sanjiva Jain, Senior Vice President (Finance), JCT Ltd, told, “Both the steps are welcome as these will help to control the interest cost and input costs along with transportation cost which have increased sharply. These steps are definitely in the right direction and will help the industry in general.”

Discussing on Government's efforts to normalize the situation and fuel price cuts, Mr Jain stated, “These steps will prove helpful for the textile industry as well but are not sufficient for the industry which has been suffering badly for more than a year now not only because of rising costs but also demand slowdown leading to under-utilisation of capacities. We look forward to more relief from the RBI and Government of India to revive the textile industry.”

Fibre2fashion News Desk - India


Interviews View All

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Yariv Bustan,

Yariv Bustan

Founded in Israel in 2015, Twine Solutions is a tech start-up that has...

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

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...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

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


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