SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

Exports.9.Thmb.jpg Extension of interest subvention to boost MSME exports: FIEO

m-rafeeque-ahmed.jpg
   Top Stories
» 28 Indian startups raised over $800 mn in funding this week
» GST Council waives interest, penalty on notices to taxpayers under Section 73
» India's innovation ecosystem poised for exponential growth: Industry
» India's innovation ecosystem poised for exponential growth: Industry
» Overseas Indians faith grows in Indian economy with $1 billion deposits in April
SME Times News Bureau | 28 May, 2013
Extension of interest subvention will give a boost to the Micro, Small and Medium Enterprise (MSME) exporters who are impacted by the recessionary conditions in the global markets, President, Federation of Indian Export Organisations (FIEO), M Rafeeque Ahmed said Monday.

While commenting on the expansion in the interest-subvention scheme including 6 tariff lines for textiles including made-ups and 101 tariff lines in case of engineering goods besides the 134 lines that were included in January 2013, President, FIEO, stated that this would provide some leeway to the MSME export sector who are impacted by the recessionary conditions in the global markets affecting exports of Engineering and Textiles, both of which declined by about 4 percent in last fiscal.

Ahmed stated that the six tariff lines for textiles included; Blankets and Traveling Rugs; Bed Linen, Table Linen, Kitchen Linen; Curtains including Drapes and Blinds; Sacks and Bags, Awnings and Sun-blinds; other made up Articles etc.

Given that the turnover of the textile industry is pegged at USD 55 billion at current prices with exports accounting for 36 percent, India ranked third in global textile export, coming up behind China and the European Union.

Being intensively employment oriented, the extension of interest subvention may come as the much needed relief which was announced in the annual FTP announced in April this year, said Ahmed.

President, FIEO stated that the 12th Plan document for boosting engineering exports inter-alia suggested reducing credit costs as a necessary per-requisite for exports.

Coverage of more Engineering products for interest subvention is a step to reduce cost of credit and impart competitiveness to Engineering exports which dominate export basket.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter