In Order To Strengthen The Development Of Domestic Textile Industry, India Has Issued Many Preferential Policies.

< p > the central government of India has announced a special "a href=" //www.sjfzxm.com/news/index_q.asp "preferential policy < /a", that is, the minimum investment amount of the investment "a href=" //www.sjfzxm.com/news/index_c.asp "textile > /a" project is 250 million rupees, in order to attract more investors to invest in the textile industry.

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"P >" according to the India times, the chief minister of the cabinet (ShivrajSinghChouhan) agreed to provide five years of interest subsidy for textile mills engaged in fabric production, providing a 7% interest subsidy for a comprehensive textile factory (the plant needs a fixed production chain, from cotton processing, spinning, weaving to finished clothing).

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< p > from the Minister of industry and Commerce (KailashVijayavargiya), it is learned that under the industrial investment promotion plan, the ginning plant will get the same amount as the value added tax paid during the interstate sale of finished products or the amount of "//www.sjfzxm.com/news/index_cj.asp" > sales tax < /a > in the central a href=.

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Similarly, the unit of fabric production will also receive assistance, equivalent to the value added tax paid for the purchase of raw materials and the value-added tax and central sales tax paid for the sale of finished products. P

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Less than P, the minister said that in the past three years, the textile industry in the state has attracted 70 billion rupees and created 20000 new jobs.

He added that their goal is to raise investment to 200 billion rupees.

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< p > he said that about 70% of the raw cotton was pported to other states.

If more textile factories are established in the state, this will reduce farmers' search for buyers in other states, such as Gujarat and Maharashtra.

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< p > this policy will make the central government more attractive to investors than Gujarat and Maharashtra, a government spokesman, NarottamMishra.

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At the same time, the India government announced that it would extend the interest subsidy of 2% of the labour intensive industries, including textiles, clothing, handicrafts, and interest subsidies extended to March 2014 for more than a year.

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Anand Sharma, Minister of industry and Commerce in India, said at a press conference that the interest subsidy scheme announced in June 5th this year was extended to March 31, 2014, aiming at providing assistance to various industries covered by the plan.

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< p > Mr. Sharma, Minister of federal textiles, said that in the first 8 months of this fiscal year, India's total exports dropped by 5.95% to $189 billion. Therefore, the government decided to extend the interest subsidy scheme.

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< p > the minister said that the latest move would help to reduce India's trade deficit. In April this year, the trade deficit was $129 billion 500 million in April.

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< p > he said that the economic downturn in western countries has led to sluggish exports, but the government has made efforts to diversify the markets, including Africa, South America and Southeast Asian countries.

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< p > he said that India will continue to maintain its market share in developed markets, the United States and the European Union.

At the same time, bilateral trade between India and ASEAN, Africa and South American countries has reached 80 billion US dollars, 65 billion US dollars and 30 billion US dollars respectively.

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< p > however, during the month of April -11, exports of garments, carpets and jute products in India decreased by 8%, 11% and 14%. < /p respectively.

< p > the minister also announced that it will provide a 2% interest subsidy for exports increased during the month of January 2013, exceeding -3 -3 in January 2013.

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