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30 Oct 2020, Edition - 1935, Friday

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Coimbatore

Textile sector needs tweaking in MSME loan package to get more benefit

Covai Post Network

Coimbatore : The low-end goods, essential goods and Value for Money Goods in the textile sector are moving well in this Covid-19 situation
but fashionable apparels that depended on showrooms in malls are yet to make a recovery, Indian Texpreneurs Federation (ITF) said today.

“Thee export orders are on a medium performance level now but the order-enquiry for the next quarter is good,” ITF Convenor, Prabhu Damodharan told reporters at a virtual press conference here.

On the whole, the market situation of textile is slowly and gradually recovering, even as the impact of COVID-19 is massive and the recovery will be gradual, he said.

The federation has advised and cautioned its members to scale-up the production only after carefully analyzing the demand, he said.

There was a good opportunity for Indian textile products to enter Japan market in the near future and ITF has spoken with its members and 51 have already expressed interest to make products for this promising market, he said.

After analyzing the clothing and textile requirements of Japan Indian textiles manufacturers will enter the market, he said.

Stating that the MSME financial package from the Centre had been helpful in increasing the liquidity Prabhu said that people with the
eligibility criteria had easy access to get this package benefits, he added.

When asked about the progress of ITF’s ‘India for Sure’ concept (a project that pitches India as an “Ethical partner for sourcing Fashion Goods with Tamil Nadu Textile Sector as the base”), he said that data has been collected from 140 companies and in another few days 100 more will be collected.

Probably by July 15th, the 1st stage data will be launched, he said.

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