Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Textiles / Shri Velayutha welcomes proposals for Union Budget
Shri Velayutha welcomes proposals for Union Budget
27
Feb '10
Shri V S Velayutham, Chairman, The Cotton Textiles Export Promotion Council of India (Texprocil) has welcomed the proposals for the Union Budget 2010 presented by the Hon'ble Union Minister of Finance Shri Pranab Mukherjee, on 26-02-2010 as a step not only in the direction of fiscal consolidation but also policy consolidation.

Shri Velayutham appreciated efforts made by the Hon'ble Minister of Textiles Thiru Dayanidhi Maran in getting the specific proposals like providing one time grant of Rs.200 crores to the Government of Tamil Nadu towards the cost of installation of a zero liquid discharge system at Tirupur to sustain country's hosiery exports from Tirupur, launching of extensive skill development programme in the Textile & Garment sector by leveraging the strength of the existing Institutions & Instruments of the Textile Ministry. He felt that these measures would go a long way in addressing the manpower and manufacturing needs of this labour intensive sector.

Shri Velayutham welcomed the allocation of Rs.2400 crores under TUF Scheme which will facilitate in clearing arrears of interest subsidy and will give great relief to exporters.

As regards, the extension of interest subvention of 2% for one more year, Shri Velayutham appealed to the Government to extend the interest subvention facility of 2% to the textile sector as a whole (and not limit it only to the Handloom, Handicraft & Carpet sectors), considering the continuing decline in exports and erosion of competitiveness.

Considering that the measures like hike in fuel prices would lead to inflation (at least in the short to medium term) continuation of 2% subvention of interest rates for pre-shipment export Credit was very vital at this juncture, so as to ensure that operating costs do not spiral out of control. If operating costs also increase Indian textile exports would decline further.

On behalf of the exporting community Shri Velayutham appealed to the Hon'ble Minister of Textile Thiru Dayanidhi Maran & Hon'ble Minister of Commerce Shri Anand Sharma to intervene in the matter to ensure that the textile sector as a whole is also given the benefit of interest subvention for one more year.

The Cotton Textiles Export Promotion Council of India


Must ReadView All

Courtesy: Asmara Group

Apparel/Garments | On 20th Sep 2018

Fragmented nature of Indian apparel sector major challenge

A major challenge for the Indian apparel sector is its fragmented...

Courtesy: Aditya Birla Retail

Apparel/Garments | On 20th Sep 2018

Indian Aditya Birla Retail to be acquired by Samara-Amazon

India’s Aditya Birla Group has signed a deal to sell Aditya Birla...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

Interviews View All

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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 2018

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

news category


Related Categories:

Advanced Search