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Measures to back cash flow to Indian textile industry during pandemic

26
Mar '21
Pic: Shutterstock
Pic: Shutterstock
India has undertaken special measures during the COVID-19 crisis to support liquidity flow to the textile industry, including the cotton textile sector, by introducing an option to release part subsidy against bank guarantee in facilitating the subsidy release process, textiles minister Smriti Irani told the lower house of parliament in a written reply recently.

Four hundred units are supported with ₹100.36 crore under the Amended Technology Upgradation Fund Scheme (ATUFS) and 20 units with ₹42.52 crore under the Revised Restructured-TUFS, an official press release said.

The average domestic price of cotton is cheaper by around 14 per cent during the current cotton season compared to the international price.

Fibre2Fashion News Desk (DS)


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