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2010-03-12

“Garment exporters need 2 per cent subvention”

The Ministry of Textiles wants the concessional export finance scheme to be extended for the beleaguered garment export sector in India.

The Ministry of Textiles wants the concessional export finance scheme to be extended for the beleaguered garment export sector in India.

 

The issue has been taken up with the Commerce and Finance Ministries. The sector has been excluded from availing the 2 per cent interest subvention benefit in the Union Budget 2010-11.

 

The garment exporters are of the opinion that the sector has suffered huge losses during the global financial crisis. Therefore, efforts need to be undertaken by the Textile Ministry to urge the government to provide 2 per cent interest subvention scheme on export credit in order to provide some relief to the sector

 

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