India Government Extends Interest Allowance For Textiles

< p > > a href= "http://www.91se91.com/news/index_p.asp" > India < /a > the government has announced that for some labor-intensive industries, including < a href= "http://www.91se91.com/news/index_c.asp" > textiles > /a > clothing, handicrafts, the extension of a a "a" > interest allowance "< 2%" until March 2014.

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< p > at the press conference, Anand Charles, Minister of industry and commerce, said that the interest subsidy scheme announced in June 5th this year will be extended to March 31, 2014 to help enterprises under the scheme.

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< p > federal textiles minister Sharma said the decision to extend the interest subsidy scheme was because the country's total exports fell by 5.95% in the first 8 months of the fiscal year, to 189 billion US dollars.

The new measures will also help to reduce the country's trade deficit, which was $129 billion 500 million from April to November this year.

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Although P exports to western countries are sluggish, the minister praised the efforts of the national government to develop diversified markets, such as in Africa, South America and ASEAN.

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< p > he said that India will continue to maintain its market in the US and EU.

At the same time, bilateral trade between India and ASEAN, Africa and South American countries has reached 80 billion US dollars, 65 billion US dollars and 30 billion US dollars respectively.

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Exports of garments, carpets and jute products in India decreased by 8%, 11% and 14% respectively from April to November. < p >

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