{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='TN: Textile mills under crisis, yarn production suspended' data-url='/boclips/videos/6878012568f2517d67873579' data-video-url='/boclips/videos/6878012568f2517d67873579' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nTN: Textile mills under crisis, yarn production suspended\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eThe Indian textiles and clothing industry that provides jobs to over 110 million people, the second largest employment provider next to agriculture, fetching 44 billion US$ forex, over Rs 25,000 crores GST revenue, etc., is currently...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eThe Indian textiles and clothing industry that provides jobs to over 110 million people, the second largest employment provider next to agriculture, fetching 44 billion US$ forex, over Rs 25,000 crores GST revenue, etc., is currently facing an unprecedented financial stress mainly due to the prolonged Russian-Ukraine war that impacted EU and US markets, higher inflation, slow-down in global economy, 11% import duty levied on cotton and disruption in the supply of manmade fibers due to certain practical difficulties in implementing Quality Control Orders. The cumulative impacts are an 18% drop in total T \u0026 C exports, 50% drop in yarn exports, 23% drop in cotton textiles exports when compared to the previous year, according to South India Mills Association.  The country currently has over 30% excess capacity across the textile value chain especially in the capital-intensive sectors like spinning and weaving. The banks have given red alerts to most of the textile units across the country owing to the unforeseen financial stress. The repayment for the short-term loans extended during the COVID period has significantly increased the financial burden of the textile industry. A majority of the SME spinning mills in Tamil Nadu have announced stoppage of production and yarn sales from 15th July 2023. The high volatility in cotton price and speculation of trade have made the spinning sector to erode huge working capital as the cotton prices have crashed from Rs 63,000 per candy of 356 kgs during April 2023 to Rs 56,000/- per candy during July 2023. Even for the current cotton prices, the mills are incurring loss to the tune of Rs 10 to 20 per kg of yarn. The steep increase in power tariff especially for the SME units has made over 2000 spinning mills in Tamil Nadu uncompetitive as these mills already incur Rs 3/- to Rs 6/- per kg for sourcing the entire raw material from Gujarat, Maharashtra and other States. Addressing the joint Press Meet held on July 16 at Coimbatore, Ravi Sam, Chairman, The Southern India Mills’ Association stated that the textiles and clothing industry that normally work at 3% to 6% profit margin is currently incurring 5% to 10% loss. They stated that the industry urgently needs interim financial relief to prevent the units becoming NPAs and causing irreparable trouble for both the financial institutions and the textile units especially the SME units. They stated that over 75% of the units of the country are MSME in nature. They also sought relief measures from the Government of Tamil Nadu by way of certain relief measures in the electricity tariff. SIMA Chairman, while appreciating the various initiatives taken by the Union Government especially expediting the FTA negotiations with EU, UK, Canada, Switzerland and other countries to get a tariff relief which currently ranging from 8% to 26% and boost exports and the State Government especially the steps taken to attract investments by announcing Industrial and MSME policies and announcing special scheme for technical textiles. They stated that the real benefit of FTAs could be reaped only during 2024 and the textile units cannot survive till such time without any reliefs from both the Central and State Governments also sought the following relief measures from the Central Government.\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=90924003\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Length\u003c/dt\u003e\n\u003cdd\u003e3:28\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003ePre-K - Higher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?keywords=math+comparing+decimals\u0026amp;page=23\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=358379\"\u003eSocial Studies \u0026amp; 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