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A sixth-grade social science textbook that I read described India as a piece of fabric, with countless threads coloured in a myriad of majestic shades, woven together. This metaphor holds exceptionally well when put into the context of our <keyword id="22706215" type="General" weightage="20" keywordseo="handloom-industry" source="keywords">handloom industry</keyword>. India has a rich history of handlooms and weaving cultures. The culture of handlooms is so intricately woven into Indian culture, that there are whole towns dedicated to the same: <keyword id="248532" type="General" weightage="20" keywordseo="Chanderi" source="Orion">Chanderi</keyword> in Madhya Pradesh to Pochampally in Telangana and a dozen more! Unfortunately, the handloom industry in India is dying. The struggle is multi-faceted, ranging from a declining workforce to fierce competition from <keyword id="20496028" type="General" weightage="20" keywordseo="power-looms" source="keywords">power looms</keyword>. Hence, five years ago, August 7 was proclaimed <keyword id="22677698" type="General" weightage="20" keywordseo="National-Handloom-Day" source="keywords">National Handloom Day</keyword> in response to this crisis and to heighten public awareness. This date holds special historical significance, commemorating the initiation of the Swadeshi Movement in 1905—a pivotal act of defiance against British colonial rule. <h2>When did this industry come into existence?</h2>According to archaeological findings, the origins of handloom in the Indian subcontinent may be traced back to the Indus Valley Civilization. The Mughal Empire was known to support and patronise <keyword id="20258864" type="General" weightage="20" keywordseo="weavers" source="keywords">weavers</keyword>. The support from the royal patrons resulted in the invention of new textiles such as ‘Mulmul’ and ‘Banarasi Brocade’ among others. This era witnessed a heightened worldwide demand for Indian textiles. In the 17th century, India produced 25% of the world’s textiles, with Bengal accounting for more than 50% of textiles and 80% of silks imported by the Dutch from Asia. <h2>What led to the decline of the <keyword id="19934660" type="General" weightage="100" keywordseo="Indian-handloom" source="keywords">Indian handloom</keyword>?</h2>The East India Company's entry fuelled the industry's initial decline, which started in the 1830s. The weavers were obliged to sell only to the British, and that too at exceedingly cheap prices, virtually putting them out of business. On the other hand, Indian cloth was taxed excessively to promote machine-made British clothing. The Industrial Revolution in Britain strengthened their indigenous textile industry, giving rise to new markets for cheaper textiles. In India, the collapse of the Mughal aristocracies meant no access to royal patronage. As a result, textiles like Khadi and muslin had little demand in the market. Circling back to the present, the industry is facing both similar and new challenges. Fabrics made on power looms are cheaper and faster to produce, in comparison to handloom fabrics. The industry is largely unorganised, and the wages are shockingly low. 67% of <keyword id="22706216" type="General" weightage="20" keywordseo="handloom-workers" source="keywords">handloom workers</keyword> are earning less than the minimum wage every month. Faced with economic challenges, the older artisans are thus forced to encourage the newer generation to choose an alternative career path. This migration of the workforce from a traditional sector is evident from the fall in the number of weavers less than 35 years of age- from 26.13 lakh in 2009-10 to 16.07 lakh in 2019-20. The majority of weavers do not have access to banking facilities, let alone institutional credit. Furthermore, if one manages to accumulate credit, there is a mismatch between the supply and demand forces due to the lack of awareness about handwoven textiles in the current generation. <h2>Initiatives for revival</h2>The cultural significance of the Indian handloom isn’t just limited to its beauty and extravagance, but it extends to our independence struggle as well. The Swadeshi movement immortalised the charkha and advocated for the use of indigenous goods. Following independence, the Indian government took many measures to revive the handloom industry. In 1953, India’s Parliament approved the Khadi and Other Handloom Industries Development Act. In 1955, the All India Handloom Fabrics Marketing Cooperative Society was formed to promote the sale of fabrics produced by handloom cooperatives across India. The National Handloom Development Programme (NHDP) aimed to provide financial assistance for marketing and production. The Handloom Weavers’ Comprehensive Welfare Scheme offers health and life insurance to weavers, to ensure social security. The organisation commenced a fortnight-long exhibition, “VIRAASAT” dedicated to celebrating the 10th National Handloom Day began at Handloom Haat in Janpath, New Delhi on Saturday, 3rd August 2024, and will conclude on 16th August 2024. The Handloom Mark scheme was introduced to authenticate handloom products, thus enabling weavers to gain better market access and ensuring that consumers get genuine products. Moreover, the India Trade Portal also mentions that the GOI plans to provide financial assistance of Rs. 30 crore to at least 10,000 handlooms. Various state governments also regularly conduct handloom expos and fairs, providing platforms for weavers to showcase and sell their products directly to consumers. <h2>Contemporary Brands and their love for Indian handloom</h2>Modern, popular designers such as <keyword id="8264" type="General" weightage="20" keywordseo="Sabyasachi" source="Orion">Sabyasachi</keyword> and <keyword id="21493890" type="General" weightage="20" keywordseo="ritu-kumar" source="keywords">Ritu Kumar</keyword> are known to work closely with weavers and have been doing their part by bringing worldwide attention to the handloom industries. Recently, <keyword id="1472101" type="General" weightage="20" keywordseo="Ajrakh" source="Orion">Ajrakh</keyword> was brought into the limelight when Alia Bhatt wore a custom Abu Jani Sandeep Khosla Ajrakh saree to Joy Awards in Riyadh. However, it’s not just the fashion moguls who are working towards the revival of this industry. Contemporary indie brands are partnering with local weavers, and creating awareness about their work. The emergence of such indie brands and their association with local artisans is beneficial for both entities. For instance, Joskai Studio derives its name from ‘Joskai’, a woven piece of cloth worn as a part of the traditional costume of the Tiwa community of Assam. They work with artisans in northeast India, specifically from the weaving village of Saualkuchi in Assam. Rouka by Sreejith Jeevan is a Kerala-based brand that works strictly with weavers from Kerala, specifically Chendamangalam and Kuthampally. <h2>Employment and Exports</h2>According to the Indian Trade Portal, the Indian handloom sector is the country’s second-largest employer after agriculture in rural areas. The Handloom Census 2019-20 mentions that the industry employs about 35,22,512 workers across the country, with women forming 77.29% of the workforce. India is the second largest exporter of handloom products in the world, with exports valued at $ 353.9 million in 2017- 18, as per EXIM bank's working papers. The major handloom export centres are Karur, Panipat, Varanasi and Kannur where handloom products like bed linen, table linen, toilet linen, floor coverings, and embroidered textile materials and curtains etc. are produced for export markets. During April 2021-February 2022, India exported handloom products worth 1693 crore, as per Indian Trade Portal. Indian silk scarves also form a sizable chunk of total handloom exports, in addition to home textiles like carpets, rugs and mats, which constitute over 13.6% of India’s total handloom exports. <h2>The Path Forward</h2>The mere existence of organisations and allocation of funds isn’t enough to sustain the legacy of India’s rich handloom industry. Big corporations working with local weavers ensure employment but don't protect them from exploitation and meagre wages, leaving them vulnerable. The people in power ought to come up with strategies that ensure the trickle-down effect of the schemes and funds. The new generation of buyers has a greater purchasing power than the one before them. Marketing focused on bringing Indian handloom practices into the limelight can do wonders in this case.

Fabric of a nation: Sustaining India's handloom legacy in modern times

<ul><li>The United States of America decided to withdraw 50 Indian items from duty free benefits. They will now be imported with regular US tariff norms. </li><li>The US-<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> trade war is likely to hit small and medium-sized businesses in India which are mainly dependent on exports for revenue. </li><li>The decision came in after India announced a hike on custom duties on 29 American products. </li><li>President Trump also commented on India being ‘tariff king’ to signify sour trade relations between the two countries. </li></ul>India’s souring trade relations with the United States took a new turn when the US government decided to revoke duty free privileges on the import of as many as 50 Indian products. The decision came in after India decided to hike the custom duty levied on 29 American products. Surprisingly though, India has been continuously extending the deadlines for the imposition of these the higher duties. In fact, the <a href="https://www.livemint.com/Politics/r5E40dX6oNx5zKJoaukqoL/Govt-delays-imposition-of-retaliatory-tariffs-on-US-goods-ti.html">Finance Ministry</a> recently decided to advance the deadline for the third time in a row by another 45 days till 17 December. Citing section 503(c)(2)(A) of US’ 1974 Act, President <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword> proclaimed that ‘certain beneficiary developing countries’ have overused the benefits of the Generalised System of Preferences (<keyword id="340326" type="ORGANIZATION" weightage="20" keywordseo="GSP">GSP</keyword>) in the previous year by crossing the competitive-need limitations. In a proclamation issued by White House, Trump <a href="https://www.whitehouse.gov/presidential-actions/presidential-proclamation-modify-list-products-eligible-duty-free-treatment-generalized-system-preferences/">stated</a> that he may withdraw, suspend or limit the application of the duty free treatment that is accorded to specified articles under the GSP when imported from designated beneficiary developing countries. Indian items pulled out of GSP benefits The list of items withdrawn from tariff-free provisions mainly includes agricultural and handloom goods like areca nuts, processed mangoes, sandstones, leather from buffalo skin, plain weave handloom cotton fabric over a weight of 85 per cotton, carpets and textile floor covers. The imposition of tariffs basically means that it’s going to be more expensive to export them to the US. And, since it will be more expensive, the prices of those products will increase since the trader will shift the burden of the tax onto the consumer. So, if we follow the basic principles of demand and supply, with the commodities getting more expensive, it’s likely that their demand will fall negatively impacting India’s outgoing trade. Impact on India’s small and medium-sized businesses The US was providing India benefits worth $70 million with its GSP - which gives exclusive provisions to export tariff-free products in the United States. Imposition of regular US tariffs on Indian products is likely to <a href="https://economictimes.indiatimes.com/news/economy/policy/india-to-raise-duties-on-29-goods-from-us/articleshow/64690730.cms">impact</a> the small and medium-sized business (SMEs) which are dependent on exports. Particularly, Indian handloom and agricultural sectors may have to look for other options to boost exports once tariffs are imposed on their product. It’s not India’s going to stop exporting these products altogether but having to bear regular tariffs which will directly impact export volumes. That being said, an Indian official has <a href="https://www.livemint.com/Politics/GyKMFDPJXeDL0iF9d7wosK/US-revokes-dutyfree-privileges-on-import-of-90-Indian-produ.html">claimed</a> that these products are not a major part of India’s total export, which is worth $5.6 billion, and thereby will not impact the Indian economy much. US-India’s tangled trade relations US and India have been going through a rough phase since the Trump government came into power. Earlier this year, India announced plans to increase the tariff on 29 American goods - mainly nuts, apples and finished metal - as a counter-attack on Trump’s move to increase taxes levied on the import of steel and aluminium. Mis-stating India’s tariff system, Trump called India ‘<a href="https://www.businessinsider.in/world-bank-contradicts-trumps-comment-over-higher-tariffs-imposed-by-india-on-american-goods/articleshow/66463430.cms">tariff king</a>’ for levying higher import duties on several American products. The US has also been mulling over penalising India for breaching its call to bring Iranian oil export to zero. Apart from this, India’s recent<a href="https://economictimes.indiatimes.com/news/defence/india-and-russia-to-sign-over-7-billion-defence-deals/articleshow/66077335.cms"> $7 billion defence deal</a> with Russia has put the US on the offensive raising a lot of questions on how the two countries are going to work out their trade relations in the future.

India won’t be getting duty free privileges on 50 products in the US

The Indian Sari is one of the few garments that is internationally recognizable for its compelling regional style. As a metro-dwelling Indian girl, I believe that wearing a Sari is too far-fetched for most occasions. The whole six-yards of fabric is hard to maneuver for a working woman and the grace the sari commands requires complicated footwear like heels and the right tucks that can unravel easily. The everyday Indian sari has seen a revival of sorts with movements like 100SareePact, which encourage women to wear saris at least 100 days a year and document it on social media. Still, most working women find the garment tedious to carry off and wear on a daily basis especially when stitched pieces can be so comfortable in form of kurtas, dresses or simply the typical pair of jeans and a shirt. To satiate my curiosity and I decided to sign up for <a href="https://www.airbnb.co.in/experiences/39565">the Sari School</a> experience on a Sunday. Hosted by the popular <keyword id="519955" type="PERSON" weightage="20" keywordseo="rita-kapoor">Rita Kapoor</keyword> who is known for her work reviving the ancient Indian craft of hand spinning and weaving since 1998, I reached Jangpura in South Delhi to be greeted by a beautiful building and sprawling gardens. Rita Kapoor Chrishti, who started the <keyword id="4193152" type="ORGANIZATION" weightage="20" keywordseo="sari-school">Sari School</keyword> to help celebrate and educate others about the unstitched garment, started the afternoon with an interactive presentation. We learned about the craftspeople that create different kinds of hand-loom, all over the country. Handskilling capabilities on the traditional Charkha combined with Handloom weaving are the few unique resources that India holds in the international market. We also went back in time to when <keyword id="6355532" type="PERSON" weightage="20" keywordseo="mahatma-gandhi">Mahatma Gandhi</keyword>'s support of the handloom industry popularized the indigenous methods of production during the Swaraj movement before industrialization took over. The highlight of the class was when we learnt how to drape the sari in four different regional styles, and understood the difference of quality between a range of handspun cotton and silks on display by touch &amp; feel. Rita has been involved in educating the world about saris through her work with artisans and she has also authored a book titled ‘Saris: Tradition and beyond.’ Sari, all Sari Traveling district-by-district, village-by-village, and city-by-city this extensive book explores the spectrum of traditional weaver and printer settlements in fourteen sari-producing states of India. Chrishti, who regularly takes up a group of four-five people for the <keyword id="719382" type="LOCATION" weightage="100" keywordseo="airbnb">Airbnb</keyword> experience every other Sunday in her studio, believes that a hands-on experience can really transform the way people perceive traditional saris. Rita also propagates that the nine yards don't have to be limited to a particular style and is familiar with 108 ways of draping the Sari. She demonstrated four regional styles of draping the Sari starting from <keyword id="28504" type="LOCATION" weightage="20" keywordseo="kerala">Kerala</keyword>’s Mohiniattam, Bengal’s Dhokna Jalpaiguri, Odissi Dance Style to Andra Pradesh’s Venukagundaram. My personal favorite was Mohiniattam style from Kerala that constructed a fabric flower on the hip and it didn't require a petticoat under. An afternoon in her studio and an introduction to her ethnic brand- <keyword id="5281841" type="PERSON" weightage="20" keywordseo="taanbaan">Taanbaan</keyword>, made me revel in the past of the sari and the story it tells as it folds itself into the Indian traditions. 
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
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I went to the Sari School on Airbnb and learned how to tie a sari in four unique ways

New Delhi, Jan 27 () E-commerce major Flipkart on Monday said it has signed a MoU with Gujarat State Handloom and Handicrafts Development Corporation Ltd (GSHHDC) for promotion of local handicrafts.
 The agreement is part of Flipkart's Samarth initiative under which the Walmart-backed company is helping artisans, weavers and craftsmen set up their business on the Flipkart Marketplace.
 As part of this Memorandum of Understanding (MoU), GSHHDC and Flipkart will work together to enhance business and trade inclusion opportunities for artisans, weavers and craftsmen in Gujarat, a statement said.
 Eligible sellers under GSHHDC will receive training and incubation support from Flipkart in the form of onboarding, business insights, dedicated seller support and warehousing, it added.
 "The MoU with Flipkart is the start of a new era for Garvi Gurjari. The handloom and handicraft artisans living in remote areas of Gujarat will now be able to use Flipkart's platform to expand their market reach," GSHHDC Managing Director Mahesh Singh said.
 Along with marketing their products, the artisans will gain valuable knowledge about developments in designs, colour patterns and selling techniques from the platform, he added.
 "With every artisan who becomes a part of Samarth, we take a step further in making e-commerce more inclusive for all Indians and contributing to the economic growth and prosperity in the country," Flipkart Group Chief Corporate Affairs Officer Rajneesh Kumar said. SR SHW
SHW

Flipkart partners Gujarat State Handloom, Handicrafts Development Corporation Ltd

Despite unfavourable economic conditions in major markets such as the European Union (EU), the US, and West Asian nations, Indian <keyword id="21353395" type="General" weightage="100" keywordseo="textile-exports" source="keywords">textile exports</keyword> grew by 9.59 per cent compared to the previous year in May 2024, the Confederation of <keyword id="22064995" type="General" weightage="20" keywordseo="Indian-textile" source="keywords">Indian Textile</keyword> Industry (CITI) said in a report. Simultaneously, <keyword id="22064997" type="General" weightage="20" keywordseo="Indian-apparel-exports" source="keywords">Indian apparel exports</keyword> saw a growth of 9.84 per cent during the same period. The CITI in its report highlighted that the cumulative exports of textiles and apparel during May 2024 registered a growth of 9.70 per cent over May last year. The country's overall exports for May 2024 surged to USD 68.29 billion. This was a substantial year-on-year increase of 10.2 per cent, according to data released by the Commerce Ministry on June 14. The analysis noted that during Apr -May' 24, Indian textile exports registered a growth of 6.04 per cent over the previous year, while apparel exports registered a growth of 4.46 per cent during the same time period. The cumulative exports of textiles and apparel during April-May 2024 saw a surge of 5.34 per cent as compared to the same period last year. The recently released export data revealed that sectors such as electronic goods, drugs and pharmaceuticals, organic and inorganic chemicals, engineering goods, petroleum products, plastics &amp; linoleum, cotton yarn/fabs made-ups ( textiles manufactured), handloom products, etc., man-made yarn/fabs./made-ups, handloom products etc. performed well in the exports from the country. Other merchandise products, such as meat, dairy and poultry products, mica, coal and other ores, minerals including processed minerals, RMG of all textiles, tea, coffee, rice, tobacco, carpet and handicrafts, oil seeds; and fruits and vegetables, did well too. On Friday, AshwKumar, President of the Federation of Indian Export Organisations (FIEO), highlighted that a positive trajectory was seen in May 2024, driven by robust order bookings. Among the top ten export markets for India were the US, UAE, Netherlands, UK, China, Singapore, Saudi Arabia, Bangladesh, Germany and France. Considerably, in these markets, the exports registered a double-digit growth rate. Breaking down export data released yesterday, the merchandise exports witnessed a 9.1 per cent rise to USD 38.13 billion, while service exports climbed by 11.7 per cent, reaching USD 30.16 billion. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a><a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a><a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank">KKR beats MI in terms of brand value, CSK and RCB continue to lead</a>

Indian textile exports surge by 9.59% in May despite global economic challenges

Mumbai, Apr 21 () Tata Trusts, the oldest philanthropic organisation in the country, on Tuesday urged all to purchase products made by craftsmen, rather than donating money as charity.The COVID-19 pandemic has hit the heart of the handloom sector and it is "suffering terribly" under the countrywide lockdown, the Trusts, which own a majority stake in the diversified, over USD 100-billion conglomerate Tata Sons, said.The country has been under a lockdown since March 25, which is set to continue at least till May 3. It has stopped a bulk of the economic activity and is all set to impact all the sectors of the economy."Our artisans are enterprising and resilient and we need to stand by them in these trying times. None of us has ever witnessed a situation like the ongoing one, more so our brothers and sisters in the interior of India," head of craft at the trusts, Sharda Gautam, said."They do not need our charity. They need our reaffirmation in their art and craft and we can demonstrate this by continuing to purchase from them," she added.In a statement, the Trusts, which runs an initiative called 'Antaran' for the crafts sector, said the largedly self-employed craftsmen are suffering a brunt of the pandemic as they are dependent on seasonal retail sales and direct orders.As their activity is informal, the small artisans and producer groups lack access to financial assistance and cannot rely on financial institutions to tide them through such a crisis. A lack of credit from raw material suppliers aggravates the challenges, it said, adding that although the Indian government is supplying free food rations most of the artisans, especially daily wagers are finding it extremely difficult to feed their families and cater to other emergencies.Antaran is focusing on four handloom clusters in Assam (Kamrup cotton and Eri silk), Nagaland (Dimapur and Phek, backstrap loom textiles), Andhra Pradesh (Venkatgiri - fine cotton and silk weave embellished with Jamdani, Zari) and Odisha (Maniabandha weft Ikat in fine cotton, silk &amp; Gopalpur weaves in Ghicha and Tussar), it said.The team is trying to make the most of the lockdown and encouraging the "artisan entrepreneurs" to rethink a new direction and interpretation for the weaves of their clusters, it said, adding they are showing keen interest in the same.In order to become independent brand owners, the artisans are also consolidating their business, improving their product catalogue, re-organizing inventory of raw material and finished products, it said. AA MKJMKJ

Purchase products made by artisans rather than donating money to them: Tata Trusts urges people

<a href="http://www.businessinsider.in/searchresult.cms?query=skill+india&amp;sortorder=effectivedate">Skill India</a> is one of the most ambitious programmes launched by <a href="http://www.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi&amp;sortorder=effectivedate">Prime Minister Narendra Modi</a>, which aims at bridging the gap between demand and supply for <a href="http://www.businessinsider.in/searchresult.cms?query=skilled+manpower&amp;sortorder=effectivedate">skilled manpower</a>, thereby increasing the skilled workforce in the country. 
 
As per Indian government statistics, 65% of Indians are under the age of 35 and by 2025, almost 1 in 5 of the world’s working age population will be an Indian. 
 The government record also stated that in last one year, more than 1.04 crore youth have been trained under the <keyword id="6569577" type="UNKNOWN" weightage="20" keywordseo="Skill-India">Skill India</keyword> Mission. 
 
“The biggest achievement of the Modi Government was the formation of a separate Ministry for Skills, which has covered considerable ground since its formation in the field of skills. This brought Skills, Vocational Training and Livelihoods as an important means of nation-building to the forefront, which was much required in our country,” said Siddharth Chaturvedi, Director, AISECT, one of India’s skills based educational network. 
 
In India, skill development is an important milestone as the fad over traditional degrees still exists in the country. As the cut-offs are increasing and so are the drop-out rates, it has become pertinent to skill the youth and make them fit for <a href="http://www.businessinsider.in/searchresult.cms?query=employment&amp;sortorder=effectivedate">employment</a>. 
 
“There is wide mismatch in industry demand and labour force supply. Globalization and competition has intensified the need of skilled work force in India. It is important to scale up skill development initiatives of Indian government and partner organizations. Studies show that countries with highly skilled human capital have high GDP and per capita income level. So, there is a need for both, skill development and formal education,” said Chaturvedi. 
 
Talking about skills, India is a vast country and each state has a different kind of requirement. For instance, if Jammu and Kashmir requires more manpower to boost tourism, Madhya Pradesh has a requirement for hardware, education, health, etc. 
 
But, there are some skill sets that are required across the country. Here are the 10 skills that are in demand and they can fetch you a starting salary of Rs 8,000-Rs 15,000 per month. 
 
1. Textiles, including apparel, leather 
2. Tourism and hospitality 
3. Automobiles 
4. Banking, Financial Services and Insurance (BFSI) 
5. Beauty and wellness 
6. Gems and jewellery 
7. Transport 
8. IT/BPO 
9. Handloom 
10. Power loom

These 10 skills are in popular demand and they can fetch you good salaries too

New Delhi, Mar 17 () Anticipating the adverse impact of coronavirus on export realisations and working capital for the textile and apparel sector, exporters and industry representatives have sought relief measures from the government to mitigate the crisis faced by the highly capital- and labour-intensive segments. While the Confederation of Indian Textile Industry (CITI) has appealed to the Prime Minister to immediately announce a relief package to tide over the situation, Apparel Exports Promotion Council (AEPC) has written to the Finance Minister seeking her intervention. "We believe the current situation in the sector is extremely grave which warrants urgent remedies and support from your end. In absence of such relief measures, NPAs (non performing assets) may increase, impacting the sector's overall credit ratings," AEPC Chairman A Sakthivel wrote in the letter to Finance Minister Nirmala Sitharaman. The Council listed nine points as part of the immediate relief measures, including faster clearance of banking and packing credit, extension of packing credit period from 270 days to 360 days, extension of bill realisation period by RBI from nine months to one year, and delay in declaring companies' accounts as NPAs. Other requests include RBI exempting exporters from caution listing for at least a year, enhancing existing limits for advances of exporters by 25 per cent, asking commercial banks to enhance collateral-free lending up to Rs 2 crore and capping of collateral requirement at 35-40 per cent for lending beyond Rs 2 crore, and extending the enhanced 5 per cent Interest Equalisation Scheme for MSMEs to all apparel exporters. "The Interest Equalisation Scheme may kindly be extended for a period of 2 years up to 31 March 2022," the letter added. Sakthivel wrote similar letters to RBI Governor Shaktikanta Das and chiefs of public and private banks on behalf of the more than 8,000 apparel exporters in the country. CITI Chairman T Rajkumar said the Centre's directions to close all the malls and retail outlets has resulted in substantial reduction in the sales of the domestic textiles and clothing industry. He requested the Prime Minister to immediately announce a relief package for the textile and apparel sector and sought support in various forms, including moratorium for repayment of principal and interest amount to banks for four quarters (1st April 2020 to 31st March 2021). He also sought exemption for all raw materials, dyes &amp; chemicals, intermediaries, spares and accessories from anti-dumping duty and basic customs duty. Rajkumar also sought inclusion of cotton yarn and fabrics under RoSCTL, IES and MEIS benefits with immediate effect to prevent job losses for lakhs of people in the handloom, powerloom and spinning sectors. He demanded extension of soft loan equivalent to government dues pending in the books of individual textile units that could be adjusted soon as the government clears subsidy dues and reduction in the bank interest rate by 3 per cent. RSN RSN ABMABM

You Searched For "Indian handloom" and got 8 results

Fabric of a nation: Sustaining India's handloom legacy in modern times

Prerna Tyagi

India won’t be getting duty free privileges on 50 products in the US

BI India Bureau

I went to the Sari School on Airbnb and learned how to tie a sari in four unique ways

Tanya Dubey

Flipkart partners Gujarat State Handloom, Handicrafts Development Corporation Ltd

PTI

Indian textile exports surge by 9.59% in May despite global economic challenges

ANI

Purchase products made by artisans rather than donating money to them: Tata Trusts urges people

PTI

These 10 skills are in popular demand and they can fetch you good salaries too

Akanksha Jain

Apparel exporters, textile industry seek govt support to mitigate coronavirus impact

PTI

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