<h1>Indian Textile Industry Recovers Post-2011 Slump with Government Aid; Reports Growth in Yarn and Fabric Production.</h1> The textile industry faced a downturn in 2011-12 due to the global economic slowdown and cotton price volatility. In response, the Indian government announced a Handloom Revival, Reform, and Restructuring Package, allocating Rs. 3884 crore for loan waivers, interest subsidies, and credit guarantees for handloom cooperatives and individual weavers. Additionally, a debt restructuring package was approved for struggling textile mills, administered by banks under Reserve Bank of India norms. Post-restructuring, the industry reported no losses, with production indicators showing a 7.9% growth in spun yarn and a 4.7% increase in fabric production from April to September 2012.