Focus on ELS cotton in the budget can boost India’s garment exports, says TEA

The budget announcement about increasing the yield of the extra long staple (ELS) in the country is expected to boost India’s garment exports and the import dependence of the industry for the ELS cotton.

“The focus on enhancing the yield of Extra Long Staple (ELS) cotton, a long requirement of textile industry, will help to increase manufacturing of value added garments and also to reduce the import of ELS Cotton,” said KM Subramanian, President, Tiruppur Exporters’ Association (TEA).

While welcoming the increased budget allocation of Rs.900 crore for ATUF Scheme (Amended Technology Upgradation Scheme) for 2023-24 against Rs.600 crore allocated in last year 2022-23, Subramanian said he was hopeful that the increased allocation would help to clear the ATUFS pending claims, a major requirement of textile industry.

Tirupur Knitwear sector is expecting to be benefitted by the PM Kaushal Vikaas Yojana.
“Unfortunately, there was no announcement on continuance of ATUF Scheme in the Union Budget and he was hopeful that the government would announce it in near future,” said Subramanian.