Gujarat unveils relief for flood-hit Surat textile hub as sector tallies Rs 600 cr in losses
State announces direct aid up to Rs 1 lakh and subsidised loans up to Rs 30 lakh with 7% interest subsidy for 3 years for flood-hit Surat businesses. Surat, which produces 40% of India's synthetic fabric and 90% of synthetic garments at 5 crore metres/day, faces roughly Rs 600 crore in losses after 18 inches of rainfall.
Gujarat announced a relief package with direct aid up to Rs 1 lakh and subsidised loans up to Rs 30 lakh for flood-hit Surat businesses. The textile sector—40% of India's synthetic fabric output—estimates around Rs 600 crore in losses.