Coimbatore: Textile export and research players have expressed gratitude to the Union government for continuing the Emergency Credit Line Guarantee Scheme (ECLGS) and announcing ECLGS 5.0, stating that these measures will provide crucial support to the sector.
Industry Leaders Appreciate Government Support
Ravi Sam, vice-chairman of the Cotton Textiles Export Promotion Council and chairman of the South India Textile Research Association, said he conveyed his appreciation during a recent meeting with Union Finance Minister Nirmala Sitharaman. He highlighted the scheme's role in helping textile units sustain operations and protect jobs during a difficult period.
Call for Withdrawal of Cotton Duty
Sam also urged the government to withdraw the 11% duty on cotton at least until the start of the new cotton season in October 2026. According to him, this move would reduce pressure on the industry, help stabilize raw material prices, and improve the competitiveness of Indian textiles in global markets.
Need for Timely Policy Support
Sam emphasized that the textile sector needs timely policy support to navigate cost pressures and maintain export momentum. He reiterated his commitment to working with policymakers and industry stakeholders to strengthen the textile ecosystem and support growth.
The extension of ECLGS and the introduction of ECLGS 5.0 are seen as vital steps to ensure liquidity and stability for the textile industry, which has been facing challenges due to global economic uncertainties and rising input costs.
