Commerce Secretary Sunil Barthwal convened a meeting on Monday with key government officials and representatives from export promotion councils to address critical trade finance challenges faced by Indian textile exporters.
The meeting focused on several pressing issues, including the need for lower interest rates on credit, enhanced insurance coverage, increased loan coverage, and priority lending for the textile industry. These measures are aimed at bolstering the sector’s financial health and facilitating its growth.
This initiative comes in response to concerns raised by textile exporters regarding declining bank credit and its potential impact on exports. The government is committed to working closely with the industry to find solutions and ensure that the textile sector continues to thrive.
