The Indian Government'S Plan Failed To Stimulate Export Enthusiasm.

In recent weeks, the government of India has announced two incentives to tackle the global economic crisis, but exporters seem to react coldly.

In particular, the clothing export industry is not unhappy about the plan announced by the government.

All the big clothing associations say that the export of garment industry in 2008-09 will not reach the target of US $11 billion 600 million, and the gap is quite large.

There are more than 6000 member companies in the clothing Export Promotion Council (AEPC), and Mr Rakesh Vaid, the chairman of the committee, said that the government had little help to the garment export industry valued at $10 billion and almost 3 million 900 thousand of the garment industry employees.

Due to the global economic crisis, many workers have already lost their jobs.

"We are consulting with government officials and hope that the government will soon formulate specific measures to help the textile industry and the garment industry survive," he said.

He also said that the government set an export target of $11 billion 600 million, and large garment exporters expected to complete only $8 billion 780 million this year, compared with $9 billion 690 million in the last fiscal year.

The government's incentive arrangement has allocated 14 billion rupees to the textile industry renewal fund scheme, but these funds are the funds owed by the government for many years.

In addition, there is nothing new in the incentive plan.

According to industry sources, the clothing industry in India is worth 35 billion US dollars, but now it is caught in a serious economic crisis.

The industry said that China raised the export tax rebate 3 times in the past 6 months, from 11% to 17%, and Pakistan also announced 6% R & D subsidies and 2.5% interest rates.

Compared with India exporters, China, Vietnam, Kampuchea and Bangladesh all have export advantages.

Editor in chief: Hao Ling