Ravi Sam, vice-chairman of the Cotton Textiles Export Promotion Council, and chairman of the Southern India Textile Research Association, has welcomed the continuation of the Emergency Credit Line Guarantee Scheme (ECLGS) and the announcement of ECLGS 5.0.
During his recent meeting with the Union Finance Minister, Mr. Ravi Sam emphasised the importance of these measures in providing critical support to the textile sector, enabling businesses to sustain operations and safeguard employment in challenging times.
He also appealed for the removal of the 11% duty on cotton, at least until the beginning of the new cotton season in October this year. This, he stressed, would ease the burden on the industry, stabilise raw material costs, and ensure competitiveness for Indian textiles in global markets.