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Desperate apparel exporters seek govt intervention amid coronavirus scare

Low levels of working capital as a result of major cancellations of orders and a fall in export realisations have led to apparel exporters seeking government intervention

Subhayan Chakraborty 

Apparel
The letter, written on Tuesday and reviewed by Business Standard has pointed out that inventory of products have substantially piled up and credit ratings have fallen for companies in the sector | File photo

Low levels of working capital as a result of major cancellations of orders and a fall in export realisations have led to apparel exporters seeking government intervention to battle the crisis. The difficult situation has led to Apparel Export Promotion Council Chairman A Sakthivel writing to Finance Minister Nirmala Sitharaman requesting her immediate intervention to maintain the viability of apparel exporters nationwide. The letter, written on Tuesday and reviewed by Business Standard has pointed out that inventory of products have substantially piled up and credit ratings have fallen for in the sector.
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First Published: Wed, March 18 2020. 02:25 IST
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