Mr Sunil Gupta, MD at Ashnoor Textile Mills Ltd also agrees, “That giving 2-3 percent margin will not help textile industry to overcome the impact of strengthening Rupee.”
Talking about schemes like TUFS, Mr Natrajan explains, “Textile sector will definitely get some support from these policies, but, then there should be fast and timely disbursement in interest rates. Presently, all the procedures are conducted at a leisurely pace. Moreover, licensing should also be swift, so that it is more beneficial.”
Mr Gupta puts in a few final words. He warns, “Unfortunately, giving subsidies or reducing interest rates will not help everyday losses. Government needs to offer appropriate compensation. If this situation continues, soon, all the exporters will be forced to cease their operations.”
Fibre2fashion, News Desk - India
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