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Apparel sector seeks higher interest subvention

January 14, 2026

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The Morning Standard

THE apparel sector, which is one of the worst hit due to the US tariff, expects the upcoming Budget 2026 to introduce a focus market scheme (FMS), primarily for exports to the US, a higher interest subvention under Export Promotion Mission (EPM) and also a reduction in GST on textile and apparel machinery from 18% to 5%.

- PUSHPITA DEY @NewDethi

Apparel sector seeks higher interest subvention

Apparel exporters have written to the Ministry of Finance seeking measures for the sector that could help them navigate through the challenges.

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