The restructuring plan will focus on resolving issues such as moratorium on payment technology reforms, packaging and lending of foreign funds, liquidity assistance, and interest subsidies for textiles and apparel exports.
Sharma outlined many of the government's proactive steps to address the decline in the textile industry. These steps include the restoration of the Cotton Duties Customs Duty and Obligation Certificate Program (DEPB), which took effect on April 11, 2011, the export of cotton into the scope of the open general license, without quantitative restrictions, simplifying the registration procedures for cotton and cotton yarn exports, Opponents shake up the financial policy of textile weavers, increase the allocation of technological reforms, and approve new textile parks.
Sharma said: "I hope that the difficult times will soon pass and we will be able to push exports more in the coming time."
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