“They should definitely change it to ten years in the 12th year Plan and the two years moratorium period, which is not sufficient, should be made more flexible at least for processing and technical textile projects because it takes minimum 3 years for the clearance. The cabinet committee should not be adamant else it will be very difficult for us to compete with countries like China and other countries. We would not have minded all this if the interest rates would have been at 7-8% like it was in the beginning of the 11th 5-year Plan, but today it is 14%,” Mr Selvaraj voices his concern.
Besides, he also brings to notice the challenges like high fuel-energy prices thereby elevated transport costs and freights, infrastructural lacunae, and many anomalies as well as constraints in import policies which already remain as hindrances for sector's good performance in the country amidst tough global competition.
Fibre2fashion News Desk - India
marketing@alchempro.com
