India drafted to save the Indian Ministry of Textiles Textile

Textile Ministry of India requested the drafting of the Prime Minister’s Office and the Ministry of Finance to save the Indian textile and garment industry measures, textile minister Shankersinh Vaghela said: “We propose to enact a package of measures, with the textile and garment industry’s request to maintain consistency.”

He said that the textile and garment industries have been put forward specific requirements for a package of measures, including raising the interest rate subsidies, the export tax rebate rate to 4 percent, the margin requirements from the current 25% to 10%, textile and garment industry to reduce borrowing costs.

He said that the textile and garment industry began in October fell ,2008-09 The overall objective of the fiscal year is also expected to decline. The beginning of this year is expected to grow 20 percent over the previous year. Experts predict that this year exports are likely to maintain the previous year’s level.