Home Textile Indian textiles should capitalise as China hit by virus

Indian textiles should capitalise as China hit by virus

13
Indian textiles should capitalise as China hit by virus’

Indian textile industry should capitalise on the Chinese coronavirus outbreak as the world has become vary of importing goods from the country due to the epidemic, advised T Rajkumar, chairman of the Confederation of Indian Textile Industry.

“We expect China will take 3-4 more months to return to normalcy. Indian textile and clothing exporters should be aggressive and tap overseas orders that will shift from China,” he said. “We hear that several businesses have been hit in China, especially during the last one week. Indian exporters are beginning to get enquiries from importers in different countries as they cannot source from China now.”

“I expect higher orders for apparel and made-up exports from India even before the end of this financial year,” he added. Countries such as Bangladesh that are strong in garment exports may also face challenges as they import raw material from China. Rajkumar said, “For Indian exporters, the entire textile value chain is available. They should reach out to buyers and tap opportunities.”

On the announcements in the Union Budget, Mr. Rajkumar said that abolition of anti-dumping duty on PTA would lead to 20-25% of textile mills switching over to synthetic yarn production from cotton. The anti-dumping duty on PTA was $26 to $160 a tonne depending on the country from where it was imported.

With removal of the anti-dumping duty, the raw material for production of MMF (man-made fibre) will be available at international price. At present, cotton yarn production in India is higher than synthetic yarn. Several mills will move to MMF now, he said.

0

LEAVE A REPLY

Please enter your comment!
Please enter your name here