Financial Daily from THE HINDU group of publications
Friday, Oct 11, 2002
Financial Daily from THE HINDU group of publications Friday, Oct 11, 2002 |
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Industry & Economy
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Knitwear & Hosiery Logistics - Infrastructure Tirupur exporters seek ASIDE funds for link roads Our Bureau
COIMBATORE, Oct. 10 TIRUPUR knitwear exporters have asked the Commerce Ministry to release funds under the Assistance to States for Infrastructure Development for Exports (ASIDE) to facilitate improvement of three roads in Tirupur that link the knitwear town to nearby National Highway Nos. 47 and 67. The knitwear industry's plea in this connection was made to Mr A.K. Poojari, Additional Director General of Foreign Trade (DGFT) who along with Mr S.S. Renjhen, another senior officer and joint secretary (Duty Drawback), Ministry of Revenue, attended an exporters meet in Tirupur on Wednesday. The Tirupur Exporters Association (TEA) President, Mr A Sakthivel, made the request to Mr Poojari. Besides the ASIDE funds, the Tirupur exporters have also asked for grants from the Commerce Ministry under the `market initiative assistance' scheme for the brand development scheme as well as to set up an off-shore warehousing to stock knitwear in the European Union. Tirupur exporters are planning a warehousing facility in Rotterdam in Europe. The Additional DGFT maintained that his office would consider the TEA's representation seeking the ASIDE funding. He informed the members that 80 per cent of the Rs 330 crore earmarked for the ASIDE programme would be disbursed to the States for creating infrastructure for exporting industry. The Joint Secretary in the Ministry of Textiles, Mr K.K. Jalan, who too attended the exporters meet said the Government was in the process of drafting a scheme to resolve the pending cases related to the impounded earnest money deposits/bank guarantees from garment exporters.
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