Industries seek early release of support under ECLGS
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AAA Micro, Small and Medium-scale Enterprises (MSMEs) here have urged the banks to release at the earliest the 10 % assistance announced by the government under the Emergency Credit Line Guarantee Scheme (ECLGS).
R. Ramamoorthy, former president of the Coimbatore District Small Industries’ Association, said the units had sought 40 % support when the Scheme was announced last year. However, the government had announced 20 % assistance. It has now provided additional 10 % support. The government should provide another 10 % assistance under the Scheme and the banks should start releasing the funds at the earliest. “It will help the MSMEs disburse salaries and meet other fixed expenses,” he added.
Textile stocks bounce back on global recovery
February 08, 2021
Covid pandemic triggers demand for towels, bedsheets, pillow covers
Stocks of textile companies focused largely on exports has seen a steady rise in the last few days with the revival in global demand.
Demand from all customers
Home textiles used for furnishing residence, towels, bedsheets, pillow covers and table linens are being bought more often in the US as the fear of Covid pandemic subside with the launch of vaccine.
Moreover, consumers, who are working from home, get more time to spend on the aesthetics of their house and spending more on home textiles.
Wednesday, December 30, 2020 12:20PM IST (6:50AM GMT)
Shri Manoj Patodia, Chairman - TEXPROCIL
Mumbai, Maharashtra, India: Exporters from India are facing huge shortage of containers for exports. “The situation is becoming very serious as exporters are finding it difficult to adhere to shipment schedules which is a matter of serious concern,” said, Shri Manoj Patodia, Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL). One of the reasons being attributed for the shortage is the low volume of imports, especially from China. Further, exporters face shortage of containers not only at the Gateway Ports but also at the ICDs.
In the initial months of the lockdown, Shri Patodia pointed out that exports were low. However, after a period of intense lockdown for more than 6 months, exports of textiles & clothing have started picking up sharply, according to the Chairman, TEXPROCIL. Many exporters are h
Container shortage hits textile exporters
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Textile and clothing exporters are hit by container shortage and if the situation continues, they can lose nearly 20 % business, according to the Cotton Textiles Export Promotion Council.
Chairman of the Council Manoj Patodia has said in a press release that the exporters are facing severe shortage of containers. “The situation is becoming very serious as exporters are finding it difficult to adhere to shipment schedules which is a matter of concern,” he said.
“It takes more than two weeks for the exporters to get the containers for shipments of export cargos which is resulting in delay and non-fulfilment of terms and conditions as agreed with the overseas buyers,” Mr. Patodia said.