Looking desperately towards Government for support, the Indian apparel industry will get a package this week. And as per the sources, this package will focus mainly on wages of the workers for the month of April.
Due to Coronavirus, the entire Indian textile and apparel industry has been facing unprecedented huge losses. Support on wage and interest rate, the moratorium of loan for one year are among the major demands of the industry.
On the condition of anonymity, a senior official of the Ministry of Textile and a leading apparel manufacturer, who is in regular touch with the ministry, confirmed this to Apparel Resources.
“We are talking to the ministry on a daily basis and also had an online meeting with Union Minister of Textile. Support in the form of package is under progress and we expect it will be declared in coming days,” told a leading apparel manufacturer who is involved in this exercise.
It is pertinent to mention here that the Government has formed a committee for this task and the committee also had few meetings.
Another industry leader who is also part of this committee told Apparel Resources, “The Ministry has taken the details regarding ESI, PF, and overall burden on the industry. It’s just a matter of days when some important announcements will be made.”
Even a few days back, Smriti Irani, Minister of Textiles chaired a video conference meeting with 15 major associations of textiles industry who represented various textile segments and clusters across India. The meeting tried to come out with a strategy for normalising production & achieving growth in a changed global scenario.
