India Is Considering Offering More Preferential Measures To Textile Exporters.

Anand Charles, Minister of industry and commerce, announced that after the completion of the review by the Ministry of industry and commerce, new preferential measures will be offered to some exporters in January this year.

He said that exports in most sectors are beginning to improve.

But there are still several industries that are not performing well, such as garments, garments and tea, and exports are still declining.

In the first three quarters of this fiscal year, the export of garments and garments decreased by 3% to $7 billion 600 million, due to a decrease in exports to the United States and Europe.

In the meantime, total exports grew by 29.5% to $164 billion 700 million.

At the end of 2008, when the export began to decline, the textile industry was supported. DKNair, President of the India Textile Industry Federation (CITI), said that support was not enough.

The government announced 2% credit subsidies or interest payments for textile enterprises, but the final notice was limited to 8 products.

CITI asked the government to expand the scope of the market's key product plans, and to enjoy the benefits offered by the scheme from garment expanded garments and garments to all market exports.

According to the plan, exporters are granted duty-free import certificates or interests. For special markets, such as the European Union and non traditional markets, such as Latin America, the tax exemption rate is 2% of the export value.

The Ministry of commerce is examining the expenditure involved before finalizing the incentive plan.

The source of funding is very real. Even if it provides 2% of the award for clothing exports, the Ministry of finance will also take about 4 billion rupees.

AjaySahai, President of the India export organization Federation, says it is clear that the textile industry does need more incentives.