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INDIA: Statement of Shri V.S.Velayutham ‘Vote-on-Account 2009-2010

Shri V.S Velayutham, Chairman, Texprocil has stated that the Indian textile industry, which is currently reeling under the impact of financial turmoil and slowdown in the demand of textile goods in major markets, will have to wait for a period of four to six months for concrete policy measures to for revival of this employment intensive industry. While welcoming the interest subvention of 2 per cent on pre and post shipment credit for Textiles sector till September 2009 by earmarking an additional outlay of Rs 500 Cr, Mr. Velayutham expressed concerns regarding uncertainty created on account of the distribution policy of cotton which is seriously eroding competitiveness of Indian textile industry. The government’s objective to substantially increase Plan expenditure to the tune of 0.5-1.0% of GDP for the year 2009-10 at the time of the presentation of the regular Budget while providing a stimuli to the Indian economy and help Indian Textile industry to cope with the global recession in the long run overlooks the crisis in the short term.’

 

Added: February 18, 2009 Source: Agencies

 

 

 

 

 

     

Highlights of the Foreign Trade Policy

The Hon’ble Union Minister of Commerce & Industry, Government of India, had announced the Foreign Trade Policy on 8th April’05. Some of the Salient Features / Highlights of the proposals pertaining to Textile Industry in general and Handlooms in particular are. >> More

 

Salient features / Highlights of the Foreign Trade policy

 

Modern Processing Houses

The Indian Home Textile Industry has access to excellent infrastructure facilities and uses the latest technology and machinery.

Many manufacturers have set up state-of-the-art modern processing houses to roll out large volumes of high quality products to meet the international market demands and expectations. Needless to say that India’s Textile Exports have grown exponentially over the last decade.

Eco- Friendly Dyes: Use of Azo-Free Colours

The manufacturers in India are well aware that AZO free colours and dyes should be used. India has discarded the usage of banned materials in the dyeing process with safe substitutes, to ensure eco-friendliness of the products manufactured by the industry.