Apparel exporters disappointed by repo rate –TEA

Mumbai: The Tirupur Exporters’ Association (TEA) has said the Reserve Bank of India’s decision to keep the repo rate unchanged at 6.25% has disappointed the apparel export community, which was expecting a reduction in interest rate post demonetization. The Association said that the reduction in interest rate is the most important at this juncture to increase the competitiveness of apparel sector at a time when the export growth rate is a meagre 3.54% for the nine months period of this fiscal year 2016-17.