Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2011-07-07

Textile Industry expects relief package

Textile Industry is struggling for survival, a relief package from government is the need of the hour

The Indian textile industry has urged the government to provide them with a relief package soon as the sector is undergoing tough times due to crash in prices of yarn, declining demand both in domestic and international markets, withdrawal of export incentives and constraint with repayment of loans and interests.

CITI Chairman  Shishir Jaipuria said that DEPB and drawback on exports of cotton yarn should be restored immediately with effect from the dates of their discontinuance. Also, the restoration of interest subvention of 4.5 percent on export of textiles and clothing is requisite.

Further, he reiterated to withdraw  excise duty of 10 percent imposed on the branded garments and clothing in the last Budget in order to stimulate the consumer demand.

CITI also proposed the government for moratorium of additional two years on repayment of all loans and interest to be allowed including TUFS loans for all units in textiles and clothing industry.

And, the reduction of margin money for purchases of cotton to 10 percent are the other relief measures, which the government should provide to the industry, CITI suggested.

Related opportunities
  • About Us: Cambridge Montessori Pre School and Day Care is poised..
    Locations looking for expansion New Delhi
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 5lac - 10lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Central Delhi New Delhi
  • Furniture/Home Decor & Furnishing
    About Us: Established in 1999, with a love for woodworking, Woodniture..
    Locations looking for expansion Delhi
    Establishment year 1999
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Fine Dine Restaurants
    About Us: Located in Andheri, The newest eatery to make its way..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Gyms And Fitness Centres
    About Us: UK's leading fitness chain now enters India to provide..
    Locations looking for expansion New Delhi
    Establishment year 2003
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts