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Textile, finance ministries to meet next week
The textile and finance ministries are expected to meet next week to discuss restructuring of loans for the textile sector, according to sources. Representatives of the Reserve Bank of India may also attend the meeting. The textile industry, reeling from Rs 55,000-crore debt, incurred losses worth Rs 11,000 crore in 2011-12 due to changes in government policies. According to corporate debt restructuring

Maharashtra moots subsidies to boost textile investment
State expects Rs 40,000 cr investment in 4 years from capital, interest subsidies

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Textile sector: Bad debts to rise

The textile sector has come under stress again. Given that banks have an estimated Rs 140,000 crore exposure to the sector (four per cent of total credit), its health is of particular relevance to

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Economy jittery, jobs increase

The economy may be showing signs of a slowdown, but employment generation in the country continues to steadily rise, says the latest finding of the Labour Bureau on the effect of economic slowdown on

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Q&A: M P Agarwal, CMD, SLCL

Kanpur-based Shri Lakshmi Cotsyn Limited (SLCL) is an integrated textile player. It posted net sales of Rs 1,798 crore for the year ended June 30, 2011 and expects its turnover to touch Rs 5,000

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Textile subsidy scheme weaves dull streak in new avatar

With the economy slowing and the garment business still looking for stability, the subsidy scheme for technology upgradation in the textile sector has received lukewarm response in its new avatar.

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