India and its textiles industry have a long and storied history. However, in the recent past, the country has fallen behind some of its peers, especially when it comes to catering to the global export markets.
For a nation of a billion consumers with over 60 million SMEs spread out in metros as well as the Bharat, the fully digital system of tax network, with complex new laws to comply with, the regime was overwhelming to every business owner.
New Delhi: The finance ministry is understood to have asked the state-controlled banks to go slow on the recovery of loans from the micro, small and medium enterprises (MSMEs) as the economic downturn may have restricted their capacity to repay the dues on time.
Issues to be discussed include lack of credit, impact of FTAs, need for incentives, improvement of logistics.
Mumbai: The Indian rupee appreciated by 36 paise to 71.30 against the US dollar in early trade on Thursday as gains in domestic equity market and fresh foreign fund inflows strengthened investor sentiments.
They discuss measures needed to revive the sector.