In the video conference held with Commerce Minister Piyush Goyal amid the lockdown, members of CAIT(Confederation of All India Traders) and local textile traders presented various demands. During lockdown, the textile industry has been shattered due to the continuous closure of the industry. The entire business of the season has gone. Liquidity problem will arise at the time of market opening after the lockdown. In such a situation, the industry has appealed to provide debt relief, extra time to pay the installment and interest-free loans of up to 5 lakh to the traders on the condition of paying back in three years.
Federation of Surat Textile Traders’ Association (FOSTTA) has written a letter to Prime Minister Narendra Modi requesting him to assist small traders. Champalal Bothra, General Secretary of FOSTTA said, there is a big problem of working capital in the industry, and the industries is looking for government relief. We have demanded financial support by giving MSME status to traders. There are around 70 thousands textile traders in the city and the daily turnover of textile market is more than 100 crore. FOSTTA has urged Union ministry of micro, small and medium enterprises (MSME) to provide status of MSME to textile traders in the city.
He said, textile trading business involves 60% job work on cloth, which passes from more than 12 different types of processes. Traders don’t invest in plant and machinery but do job work. Traders are also productive and should be given MSME status. They make and sell textiles at their own expense. Textile traders and retailers fall under the norms of MSMEs, but do not get the various benefits declared by the government as they do not have the status of MSMEs. The traders are also manufacturers and that they should be given the status of MSME.
- Events Updates2023.01.27ICF and WACS organized Competition Educational Seminar at Lemon Tree Hotel, Aero city
- COTTON PRICE2023.01.27Cotton Market Bulletin – 27th January 2023
- Technical Textiles & Non-Wovens2023.01.27Fiery® Announces Independence following Separation from Electronics For Imaging While Remaining Wholly-Owned by Siris
- Home Textiles2023.01.27EUROPE’S NEWEST RESPONSIBLE SOURCING SHOW, SOURCE HOME & GIFT, ANNOUNCES ITS RESPONSIBLE RETAIL STAGE SEMINAR PROGRAMME