Chennai, May 11 -- The textile industry and MSMEs in Coimbatore have welcomed the government's Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, saying the move will provide much-needed liquidity support amid ongoing global disruptions.

Textile Sector Sees Relief Amid Working Capital Stress

Southern India Mills Association Chairman Durai Palanisamy said the textile sector has been grappling with inadequate working capital, which has affected manufacturers' ability to sustain production, retain workers, procure raw materials and service existing bank loans.

He said the launch of ECLGS 5.0 comes at a crucial time, particularly as businesses face challenges arising from the ongoing West Asia crisis, reported The Hindu.

ECLGS 5.0 Offers...