Owners of Indian textile printing and dyeing factories seek relief ** interest

The bosses of textile printing and dyeing factories in Tirupur knitwear group in India appealed to the central government to demand the reduction of their full interest on outstanding loans because they encountered many functional problems and therefore the funds were very tight.

According to TR Srikanth, chairman of the Tirupur Knitting Export Printing and Dyeing Association, due to the closure of printing and dyeing plants, serious blackouts, and rising transportation costs, the overall business of the Tirup Group has plummeted, which in turn significantly affects the financial status of the textile printing and dyeing companies. We therefore request a reduction.** interest.

According to Mr Srikanth, the economic viability of textile printing and dyeing companies is very important, considering that almost 70% of export garments need to be printed and dyed, and only a few garments are not printed.

He said that 10 years ago, printing and dyeing apparel accounted for only 30%, 70% non-dyed clothing.

He added that the outstanding amount of the textile printing and dyeing industry is currently 100 million rupees.

Business owners also hope that the federal government will extend the TUFS to the next five-year plan (2012-2017).

This plan provides support for industrial modernization, including interest subsidies and capital subsidies. It is very helpful to the textile industry sub-industry, such as screen printing and dyeing, and it needs continuous updating of equipment to meet global standards.

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