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Related Keywords: China striving to push exports, glut in international market, hit hard due to fall in global yarn prices, Indian textile mills, making pricing of its products attractive in global markets, textile players restructing of debt, yaun correction

Indian textile mills and exporters hit hard due to fall in global yarn prices, yaun correction as well as glut in the international market. Yarn prices have declined around 30 percent this year compared with the previous year.

The price of yarn is down by Rs 10 on a month-on-month basis and by Rs 30 a kg compared with the corresponding period last year, M Anantha Reddy, general secretary of the Telangana Spinning and Textile Mills Association.

Related Keywords: black out period, Cabinet Committee on Economic Affairs., Indian textile mills, inter-ministerial steering committee, investment for upgrading technology, subsidy, textile minister Santosh Kumar Gangwar, TUFS

The Indian textile mills who had made investment for upgrading technology at their existing units as well as to set up new units with state-of-the-art facilities under the Technology Upgradation Fund Scheme (TUFS) more than three years back are looking for subsidy release now which according to them is worth Rs 2,500-3,000 crore.