Union Minister for Textiles Shankarsinh Vaghela recently announced that the garment exporters will be given some support in the form of improved duty drawbacks and lowered interest rates.
Tirupur textile industry has been incurring heavy losses for past several weeks adversely affected by the strengthening Rupee.
Garment exports to the two major markets, US and EU, had dropped 4 and 6 percent in the first quarter of the fiscal.
Vaghela assured the reporters, “Garment exporters are suffering now. I have received complaints from the industry and I have taken up the issue with the Prime Minister and Finance Ministry. Ours is not a controlled economy.”
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