Textile spinning mills are considering cutting back production and shutting down their mills once a week against the current trend of operating a mill 24x7.
India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 2.02 per cent for the month of June 2019 over June 2018. The index for textiles dipped 0.3 per cent while for apparel it was down 0.4 per cent in June, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry.
New Delhi, July 12 (KNN) Government has enhanced interest equalization rate for pre and post shipment credit for exports done by Micro, Small and Medium Enterprises (MSMEs) of textile sector from 3% to 5% from November 2, 2018, said Smriti Zubin Irani, Union Minister of Textiles.
BENGALURU: The Indian government had Rs 66,793 crore ($9.73 billion) outstanding loans with the central bank under ways and means advances in the week ended July 5, according to the Reserve Bank of India's (RBI) weekly statistical supplement released on Friday.
MSME minister Nitin Gadkari, has written to all industry associations and registered MSMEs, urging them to plant as many trees as they can before the end of the monsoon season, said an official release on Thursday.
Department of Financial Services (DFS) has informed that RBI is examining the priority sector lending norms for promoting export credit, Commerce and Industry Minister Piyush Goyal said.