Texpreneurs Forum seek to bring textile sector under interest subvention scheme

Members of the Texpreneurs Forum on Wednesday held a meeting with the Union Ministers, and officials seeking extension of the interest subvention scheme to entire textile sector.

Prabhu Damodaran, secretary of the Forum, who led the delegation briefed the Ministers and officials about the need to give the coverage of the scheme to spinning mills sector too,

Mr. Prabhu Damodaran said that the spinning sector was going through a tough period with the Ebitda (earnings before interest, taxes, depreciation and amortisation) coming down, and a majority of mills were registering huge losses.

The forum has urged for making cotton and fabric eligible for Merchandise Exports from India Scheme under Foreign Trade Policy at least for exports to China and Bangladesh, and making the use of yarns and fabrics of Indian origin mandatory for permitting duty free imports of apparels from Bangladesh.

The Union Government had stated that the eligible sectors for the scheme would be announced shortly.

Recent Posts

University of Copenhagen develops nanofibre patch for psoriasis treatment

Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…

6 hours ago

Clothing 2.0, The Marena Group to revolutionize medical garments

Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…

6 hours ago

Polartec expands eco-friendly weather protection fabrics

Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…

7 hours ago

Uncaged Innovations partners to launch leather alternative

Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.

1 day ago

Rudolf enhances digital pigment printing

Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…

1 day ago

Aquafil Group unveils sustainable yarns

Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…

1 day ago