ECLGS 3.0 would involve extension of credit of upto 40% of total credit outstanding across all lending institutions as on 29 February 2020

International cotton prices have started coming down, of course not to the level of domestic cotton prices and in line with this, the Indian cotton prices have also been gradually reduced, he said.

Shanmugham had requested to consider TEA's plea for reduction of yarn prices as MSMEs are in large numbers and also ensuring supply of yarn in time as per the commitment given to the members of the association.

Yarn price hike: According to industry sources, the production loss is estimated to be around Rs 165 crore due to the strike.

Moreover, assessing incremental turnover of companies, especially the unlisted ones, will be a herculean task, given the scope for manipulation between group firms, he added.

Knitwear exporters from Tirupur have asked buyers to increase prices against the backdrop of rising raw material costs.