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Related Keywords: by forty eight percent, decline in exports, fabirc and made-ups, facing distress, fall in demand for woollen products, first quarter of current financial year, Indian woollen industry, Kashmir unrest has played a part, prices of raw materials increasing, Wool & Woolen Export Promotion Council, woollen garments by nine percent, Woollen yarn

India’s woollen industry is facing distress with decline in exports of woollen yarn, fabirc and made-ups by 48 percent and woollen garments by 9 percent in the first quarter of the current financial year, due to fall in demand for woollen products and prices of raw materials increasing, according to the Wool & Woolen Export Promotion Council.

Related Keywords: National Handloom Development Corporation (NHDC), primary weavers, Woollen yarn, Yarn Supply Scheme

The Cabinet Committee on Economic Affairs has approved the continuation of the Mill Gate Price Scheme (MGPS) along with 10 percent subsidy component with modifications. The scheme is now renamed as the Yarn Supply Scheme (YSS).

The plan outlay for YSS during the 12th Plan will be Rs.443 crore.

The scheme will cover the weavers who are under privileged as also vulnerable groups, by providing them subsidized yarn so that they can compete with the powerloom and mill sector. The target for the 12th Plan will be to supply 3506 lakh kg yarn worth Rs.4364 crore.