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aking on the sidelines of a conference on ‘German Technology for Indian Technical Textiles’ [link widoczny dla zalogowanych], Rita Menon, secretary of Ministry of Textiles, stated, “The issue of exclusion of the garment export sector from elect sectors entitled to avail the behalf of 2% interest subvention scheme has been taken up with the Commerce and Finance Ministries to address the requirements of Indian garment manufacturers via Budget instruments.”
The conference was organised at the Federation of Indian Chambers of Commerce and Industry (FICCI) and Germany’s mechanism contractors union, VDMA.
“Garment export sector has underwent big losses during the universal monetary emergency. Therefore, exertions need apt be undertaken by the Textile Ministry apt urge the government to cater 2% amuse subvention scheme on export credit in mandate to provide some relief to the sector,” said Ashish Maheshwari, proprietor of Sonu International [link widoczny dla zalogowanych], a small-sized garment export element in Kolhapur [link widoczny dla zalogowanych], Maharashtra.
During the conference, Ms Menon also talked almost the growth projections for technical textiles and the efforts to be undertaken by the Textile Ministry to attract investments into this segment.