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Tamil Nadu
Extend interest subvention: TEA
Staff Reporter
TIRUPUR: The Tirupur Exporters’ Association has appealed to the Union Finance Minister to extend the 4 per cent interest subvention for another year to garment exporters, as the industry continues to face problems in the wake of rupee appreciation.
Association president A. Sakthivel, in a fresh appeal on Monday, urged Mr. Chidambaram to bring down interest rates as the exporting community continued to suffer due to high interest regime and fall of US dollar.
Refund
The association also demanded exemption of Service Tax and Fringe Benefit Tax to exporters besides seeking refund of State levies and taxes. As knitwear exporters need to spend money on hedging to prevent further losses, Mr. Sakthivel wanted the Government to refund the charges towards hedging.
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