The Reserve Bank of India (RBI) increasing the repo rate will have a direct impact on the sustenance of MSMEs in the garment sector, exporters from the knitwear hub of Tiruppur said on Wednesday, demanding further infusion of liquidity under the Emergency Credit Line Guarantee Scheme (ECLGS).
Tiruppur, June 8 (KNN) The Tiruppur Exporters’ Association (TEA) has requested the central government to announce Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 for garment sector which has been hit by a number of factors such as increased cotton yarn prices, geo political tensions, interest rate hike etc.
The state government has invited 16 members from industrial associations to be part of the technical advisory committee for development of the textile and handloom industry.
Coimbatore, May 10 (PTI) Tirupur Exporters’ Association (TEA) on Tuesday appealed to the textile mills associations like Southern India Mills’ Association (SIMA) and Indian Texpreneurs Federation (ITF) here and Tamilnadu Spinning Mills Association (TASMA) in Dindigul to request their members to revoke the cotton yarn price hike of Rs 40 per kg for all counts immediately and restore to April level.
The Tirupur Exporters’ Association (TEA) on Wednesday wrote to heads of all the banks seeking help to tide over the financial crisis faced by the knitwear exporters, mostly small units, who are reeling under the high yarn prices.
After two days’ strike, members of the Tirupur Exporter’s Association were in Delhi on Tuesday to demand the Centre to ban cotton export.