Rising interest rates are virtually crippling Indian Garment and Knitwear Export Sector. Already hit by dampening exports to the US & UK markets, the sector has received a further jolt with rising interest rates making the borrowing costlier. Resulting only in losing competitiveness in global markets and left with struggling to meet financial needs for running the units, many apparel making units are soon set to be categorized as NPA (Non-performing Assets) by banks owing to their inability to repay loans.
展开▼
