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India's garment exports grew by 1.39% this August, reversing the trend since April, reports PTI. Rakesh Vaid, Chairman of Apparel Export Promotion Council, hoped the exports would grow through the fiscal.
The government earlier announced 2% interest subsidy to certain labour-intensive sectors, including handicrafts, marine products and textiles, but not garment exports. However, following a communication from finance ministry, the RBI notified banks to pass on the benefit to eligible garment-exporters. The benefit will be effective from December 1, 2008 to March 31, 2010.
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