Home / Knowledge / News / Textiles / Tirupur textile producers seek loan restructuring
Tirupur textile producers seek loan restructuring
09
Dec '11
Textile manufacturers of the Tirupur town in the south Indian State of Tamil Nadu have urged the Union Government for restructuring of their loans amounting to Rs. 20 billion.

The loss incurred by the town's textile producers during the current fiscal is estimated to be around Rs. 35 billion, mainly owing to the increased cost of manufacturing due to the closure of dyeing units.

Several dyeing units in the textile town had to shutdown following an order of Madras High Court earlier this year. The Court had directed the closure of dyeing units stating that the effluents from the factories are causing irreversible damage to the Noyyal River.

Mr. A Sakthivel, President of Tirupur Exporters' Association (TEA) told fibre2fashion, “Looking at the present scenario, we have requested the Government for a one year window for the repayment of existing loans. The Ministry of Textiles is going to forward our request to the Ministry of Finance and we hope they will come up with a solution.”

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search