India's textile new stimulus package inadequate

The Indian textile industry is passing through an unprecedented crisis due to global melt down, 40% increase in cotton prices, hardening of bank interest rate, steep increase in minimum support price for cotton, drastic reduction in export incentives, acute power shortage in Tamil Nadu, etc.

The industry has been demanding for a comprehensive relief package to revive the textile industry from the recession and sustain its survival. But the textile industry looks at the stimulus packages announced so far by the Central Government as totally inadequate for its revival in the current scenario.