Textile industry welcomes interest equalisation scheme

Indian Texpreneurs Federation today thanked the Centre for announcing Interest Equalisation Scheme and also adding readymade garments, made ups and all types of fabrics in the eligibility list.
The timely support from the government, like MIES amendment last month and increase in duty drawback rates a couple of days ago will help the textile industry regain the export market share and grow further, ITF Secretary Prabhu Damodaran said in a statement here.
The industry was confident of achieving export growth in the coming months and assured the Government about its commitment towards improving the competitiveness of Indian textile industry to make it globally competitive, he said.

"We will try to move up the value chain to make more value added products in textiles to grab bigger global market share and in this process, we will create inclusive growth by providing new job opportunities to rural population", Prabhu said.