Losses force sector with over 10 lakh employees in Tiruppur, Erode, Karur districts to stop work
The textile industry in the State, which is reeling from a steep rise in raw material price, is feeling the pinch of the Ukraine-Russia war as exports have dropped significantly.
Having weathered lockdowns and a tragic migrant crisis not long ago, entrepreneurs have become more resilient.
The Minister said the GST hike would affect the industry which is hoping to come out of the Covid crisis.
Exports account for 60 per cent of the Rs 55,000-crore domestic home textiles industry, which comprises terry towels, bed sheets/ spreads, pillow covers, curtains, rugs and carpets.
CITI today urged the Centre to negotiate with China for duty-free access to India's cotton textiles as enjoyed by other competing nations, including Vietnam, Indonesia, Pakistan and Cambodia.
The country's textiles and apparel exports stood at Rs 2,37,922 crore in 2016-17, Minister of State for Textiles Ajay Tamta said in a written reply to the Rajya Sabha.