Govt eyes 18% rise in gar­ment ex­port

India Business Journal - - NEWS ROUND-UP -

The gov­ern­ment is tar­get­ing gar­ment ex­port to in­crease by 18 per cent in this fi­nan­cial year on the back of spe­cial fi­nan­cial in­cen­tives given to the sec­tor. The coun­try reg­is­tered ex­ports of $17 bil­lion dur­ing the last fi­nan­cial year. The gov­ern­ment has given an ad­di­tional 10 per cent sub­sidy for the gar­ment and made-up seg­ments, which means that the home tex­tile in­dus­try will ef­fec­tively get 25 per cent cap­i­tal in­vest­ment sub­sidy on new ma­chines they bring in. This will lead to ef­fi­ciency and mod­erni­sa­tion of the sec­tor.

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