Fashion industry runs to Govt for help

The global recession has not spared the worldwide high profile fashion industry from its wrath. Italy which is considered one of the fashion capitals of the world is no exception. The fashion industry in Italy has been impacted to a very large extent, than anticipated earlier.The small fashion houses and companies have felt the impact the most, as consumers have clamped on their spending. Now, the fashion industry is looking up at the government, to help it get back on its feet, by means of tax cuts and access to credit on easy terms.Representatives of the trade body from the sector; Sistema Moda Italia (SMI), met the Industry Minister, Claudio Scajola to put up their demands for the textile, clothing, fashion and footwear sector, who has assured them of all help from the government.“Italy has built a reputation for itself in the global markets for its fashion clothing and footwear industry and any problem befalling the sector could have a severe impact on the ‘Made in Italy’ label and the manufacturing industry”, said the head of SMI.Source : Fibre2fashion